MA Financial Group, Keppel REIT to Acquire Sydney Shopping Center for AU$525 Million

MT Newswires Live

10/08

MA Financial Group (ASX:MAF) and Singapore-based Keppel REIT (SGX:K71U) will acquire the Top Ryde City Shopping Centre in Sydney for AU$525 million, according to a Wednesday filing with the Australian bourse.

Keppel REIT will fund 75% of the acquisition price, while the remainder will be acquired by an MA Financial-managed fund, the filing said.

The company will be responsible for management at the center, the filing added.

MA Financial Group's shares shed about 1% in recent Wednesday trade.

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