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BRIEF-Suntec Real Estate Investment Trust Announces Acquisition Office Building In Sydney

Reuters SG

July 1 (Reuters) - Suntec Real Estate Investment Trust :

* ANNOUNCES ACQUISITION OF 100% INTEREST IN A FREEHOLD GRADE A OFFICE BUILDING IN SYDNEY

* AMOUNT PAYABLE BY SUNTEC REIT 21 TRUST FOR PROJECT IS ABOUT A$297.0 MILLION

* ESTIMATED TOTAL COST OF ACQUISITION AND SUBSEQUENT DEVELOPMENT SERVICES FOR SUNTEC REIT IS ABOUT A$307.7 MILLION

* ACQUISITION IS EXPECTED TO BE DPU ACCRETIVE; SEES INITIAL NET PROPERTY INCOME YIELD TO BE 5.5% P.A. Source text for Eikon: Further company coverage: