Ascendas REIT Buys Suburban Office Park in Sydney from AMP Capital

Posted on 12/13/2020

Ascendas Real Estate Investment Trust (Ascendas REIT) acquired a suburban office park in Sydney for A$289 million from AMP Capital (via AMP Capital Diversified Property Fund). The office park consists of three building and is located at 1-5 Thomas Holt Drive in Macquarie Park. For some tenants, Macquarie Park remains attractive for companies seeking to decentralize from the central business district in Sydney. It is Ascendas REIT’s fifth suburban office acquisition in Australia.

In September 2020, Ascendas REIT bought an office campus in Macquarie Park for A$ 167 million in a fund arrangement with developers Frasers Property Industrial and Winter Property Group.

Keywords: AMP Ltd.

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