Blackstone Real Estate Advisors entered into a unit sale agreement to acquire Soilbuild Australia Trust from Soilbuild Business Space REIT (SGX:SV3U) and Soilbuild Business Space Holdings Pte. Ltd. for approximately AUD 230 million on December 14, 2020. The consideration comprises of sale of 104.1 million units which represents 100% of the entire issued and paid-up units of Soilbuild Australia Trust for a total cash consideration of AUD 232.3 million less the inter-entity loan amount. In a related transaction, SB REIT Management Pte. Ltd. announced that Blackstone Real Estate Advisors entered into a trust scheme to acquire Soilbuild Business Space REIT. The transaction is subject to approval by the SB Unitholders at an extraordinary general meeting and the sanction of the trust scheme by the High Court of the Republic of Singapore. The extraordinary general meeting of Soilbuild Business Space REIT will be held on March 11, 2021. As of March 1, 2021, Treasurer of the Commonwealth of Australia does not object to the transactions contemplated in the Australian disposal agreement and approval of the Trust Scheme by the requisite majority of SB Unitholders. The transaction is expected to close on March 31, 2021. DrewCorp Services Pte Ltd was appointed as the scrutineer in the deal. Blackstone Real Estate Advisors completed the acquisition of Soilbuild Australia Trust from Soilbuild Business Space REIT (SGX:SV3U) and Soilbuild Business Space Holdings Pte. Ltd. on March 31, 2021.