SPH Reit plans to take a half-stake in a shopping centre Down Under for A$670 million , to be funded by proceeds from a recent perp issue plus debt and/or equity fund-raising, in a deal with Lendlease Real Estate Investments inked on Thursday .
The mall, which is next to Oaklands Train Station, is about 10km away from the central business district of state capital Adelaide, while its anchor tenants include department stores David Jones, Myer, and Harris Scarfe, and supermarkets Aldi, Coles, and Woolworths. The manager will also arrange a bridging loan facility that can be drawn upon to fully fund the acquisition if need be, it added.
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