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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.