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Frasers Logistics acquiring 7 more assets from sponsor for $174 mil

Samantha Chiew Published on Tue, Jun 06, 2017 / 8:45 AM GMT+8

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SINGAPORE (June 6): Frasers Logistics & Industrial Trust (FLT) is planning to acquire seven industrial properties in Australia for A$169.3 million ($173.8 million), all of which have been developed or will be developed by Frasers Property Australia, a subsidiary of their sponsor, Frasers Centrepoint Limited.

On a pro forma basis, FLT’s DPU for the period from listing date to end March will increase to 5.38 cents from 5.33 cents, if the acquisition is successfully completed.

The portfolio comprises four completed developments and three that are under development and located in Australia’s three largest industrial and logistics markets – Sydney, Melbourne and Brisbane.