Trust Management (Suntec) Limited
Suntec Real Estate Investment Trust
COMPLETION OF ACQUISITION OF 100% INTEREST IN FREEHOLD GRADE A
OFFICE BUILDING AT 55 CURRIE STREET, ADELAIDE, AUSTRALIA
ARA Trust Management (Suntec) Limited, in its capacity as manager of Suntec Real Estate Investment Trust ("Suntec REIT", and the manager of Suntec REIT, the "Manager"), refers to the announcement dated 15 July 2019 titled "Acquisition of 100% Interest in Freehold Grade A Office Building At 55 Currie Street, Adelaide, Australia" (the "Announcement") in relation to the acquisition of the property located at 55 Currie Street, Adelaide, Australia (the "Property", and the acquisition of the Property, the "Acquisition").
As the period for the completion of the Acquisition provided in the contract for the sale and purchase of the Property (the "Contract for Sale") has lapsed, the Parties have mutually agreed to rescind the Contract for Sale and enter into a new contract for the sale and purchase of the Property (the "New Contract for Sale") with AEP Currie Pty Ltd, as trustee of AEP 55 Currie Street Office Trust (the "Vendor"), on the same terms as that of the Contract for Sale, save for the terms relating to the settlement date for the completion of the Acquisition and the deletion of one of the regulatory conditions precedent (as the relevant approval has been obtained).
The Acquisition was completed on the same day as the entry into the New Contract for Sale.
BY ORDER OF THE BOARD
ARA Trust Management (Suntec) Limited
(as Manager of Suntec Real Estate Investment Trust) (Company registration no. 200410976R)
Chong Kee Hiong
Chief Executive Officer and Executive Director
10 September 2019
ABOUT SUNTEC REIT
Listed on 9 December 2004, Suntec REIT holds properties in Suntec City, Singapore's largest integrated commercial development (including one of Singapore's largest shopping mall), a 60.8% interest in Suntec Singapore Convention & Exhibition Centre, a one-third interest in One Raffles Quay, a one-third interest in Marina Bay Financial Centre Towers 1 and 2 and the Marina Bay Link Mall and a 30.0% interest in 9 Penang Road. Suntec REIT holds a 100% interest in a commercial building located at 177 Pacific Highway, Sydney, a 50.0% interest in Southgate complex, Melbourne
a 50.0% interest in a commercial building to be developed located at Olderfleet 477 Collins Street, Melbourne and a 100% interest in a commercial building located at 55 Currie Street, Adelaide, Australia. Its aim is to invest in income-producing real estate which is primarily used for office and/or retail purposes. Suntec REIT is managed by an external manager, ARA Trust Management (Suntec) Limited. For more details, please visit www.suntecreit.com.
ABOUT ARA TRUST MANAGEMENT (SUNTEC) LIMITED
Suntec REIT is managed by ARA Trust Management (Suntec) Limited, a wholly-owned subsidiary of ARA Asset Management Limited ("ARA" or the "Group").
ARA Asset Management Limited is a premier global integrated real assets fund manager. As at 30 June 2019, Gross Assets Managed by ARA Group and its Associates is more than S$83 billion1 across over 100 cities in 23 countries.
Driven by a vision to be the best-in-class real assets fund management company, ARA Group and its Associates' businesses include:
REITs - ARA is one of the largest REIT managers in Asia Pacific. The Group directly manages Suntec REIT, Cache Logistics Trust and ARA US Hospitality Trust, listed in Singapore; and Fortune REIT, Hui Xian REIT and Prosperity REIT, listed in Hong Kong. It also indirectly manages REITs in Japan, Australia, Singapore and Malaysia through its associate companies.
Private real estate funds - The Group manages private funds providing investment opportunities in diverse real estate sectors and geographies that cater to different investor risk appetites.
Country desks - ARA operates country desks in China, Korea, Japan, Malaysia, Australia, Europe and the United States. The country desks employ a strong understanding of each local market to facilitate the flow of inbound and outbound capital and cross-country collaborations. ARA has an expanded presence in Japan via its strategic stake in Kenedix, Inc. and in Europe via its strategic stake in Cromwell Property Group.
Infrastructure - ARA Infrastructure was established in 2018 to cater to strong investor demand for global infrastructure investment.
Real estate management services - As part of the Group's investor-operator philosophy, its dedicated property management teams actively work the ground to manage its assets globally.
ARA's multi-platform,multi-product global fund management strategy, combined with its dedicated teams with in-depth local knowledge, enables the Group to offer enduring value to investors. Built on a foundation of strong corporate governance and business integrity, ARA counts some of the world's largest pension funds, sovereign wealth funds, financial institutions, endowments and family offices as its investors.
For more information, please visit http://www.ara-group.com.
1 Includes assets under management by ARA Asset Management Limited and the Group of companies ("ARA Group") and its Associates as at 30 June 2019.
This announcement is for information purposes only and does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to subscribe for or acquire, units in Suntec REIT (the "Units") in any jurisdiction in which such an offer or solicitation is unlawful.
The value of Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request the Manager to redeem their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units. The past performance of Suntec REIT is not necessarily indicative of the future performance of Suntec REIT.
Suntec Real Estate Investment Trust published this content on 10 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 September 2019 13:16:07 UTC