Brookfield Office Properties is acquiring an indirect interest in two Australian office towers in Melbourne and Perth, The Wall Street Journal reports. The real estate investment trust will pay a total of $263 million for the acquisition.
The purchase will be made by the firm’s 73%-owned vehicle, Brookfield Prime Property Fund and be funded through a mix of available liquidity, bank debt and an acquisition bridge facility. The Melbourne office complex is 100% leased to the government’s Australia Post service through 2019, while the tower in Perth is 87% leased to BankWest.
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