Salesforce Tower is expected to generate an initial passing yield of approximately 5.8% and the acquisition has DPU accretion of 0.9% on a pro forma basis.
OUE REIT has entered into a share and unit sale agreement with Mitsubishi Estate Co (MEC) to acquire a 19.9% interest in Salesforce Tower in Sydney at an agreed property price of A$357.2 million (around $319.8 million).
After taking into account the debt and other net assets attributable to the 19.9% interest in the property, the purchase consideration is A$195.5 million (around $175.0 million).
