Keppel REIT Sub-Trust 6 completed the acquisition of Pinnacle Office Park located at Macquarie Park, New South Wales from Goodman Australia Industrial Trust No. 3, managed by Goodman Group.
December 31, 2020
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Keppel REIT (Australia) Sub-Trust 6 entered into a contract for sale to acquire Pinnacle Office Park located at Macquarie Park, New South Wales from Goodman Australia Industrial Trust No. 3, managed by Goodman Group (ASX:GMG) for approximately AUD 310 million on September 13, 2020. Keppel REIT paid deposit of AUD 15.3 million upon entry into the contract for sale, with the balance of the purchase consideration to be paid upon completion of the acquisition. Transaction is expected to be funded entirely through debt. Transaction is conditional on no objection by the Commonwealth of Australia under the Foreign Acquisitions and Takeovers Act 1975 (Cth). Transaction is expected to complete in fourth quarter of 2020.
Keppel REIT (Australia) Sub-Trust 6 completed the acquisition of Pinnacle Office Park located at Macquarie Park, New South Wales from Goodman Australia Industrial Trust No. 3, managed by Goodman Group (ASX:GMG) on December 31, 2020.
Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Europe, the United Kingdom, North America, and Brazil. The Company owns, develops, and manages properties. The principal activities of the Company are investment in directly and indirectly held industrial property, investment management, property management services and development management. Its segments include Asia (Greater China (including the Hong Kong SAR) and Japan), Continental Europe and the United Kingdom. The activities and services undertaken by the segments include property investment, comprising its investments in partnerships; management activities, both fund and property management; and development activities, including development of directly owned assets and management of development activities for partnerships. The Company consists of stapled entities, including Goodman Limited, Goodman Industrial Trust and Goodman Logistics (HK) Limited.
Keppel REIT Sub-Trust 6 completed the acquisition of Pinnacle Office Park located at Macquarie Park, New South Wales from Goodman Australia Industrial Trust No. 3, managed by Goodman Group.