Singapore-based Frasers Logistics & Commercial Trust (FLCT) has acquired an office in Australia for A$60.3m (鈧�40.2m).
The five-storey, A-Grade suburban office in Melbourne has a total net lettable area of 7,297sqm. The building is fully-let to nine tenants with a weighted average lease expiry of approximately five years.
Robert Wallace, Frasers Logistics & Commercial Trust CEO, said: 鈥淭he acquisition is aligned with our strategy to pursue strategic opportunities which provide attractive yields and enables us to leverage our management expertise in Australia.鈥�
Wallace said the property was expected to further enhance FLCT鈥檚 quality tenant mix and portfolio metrics.
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