Suntec Real Estate Investment Trust (SGX:T82U) plans to launch formal sales campaigns for three Australian assets to focus on its Singapore portfolio and reduce overseas exposure.
The assets to be offloaded are 177 Pacific Highway, 21 Harris Street and 477 Collins Street in Australia, according to a Monday filing with the Singapore Exchange.
The divestment plan is supported by improving conditions in Australia's capital markets and investor interest in well-leased assets with stable income streams, Suntec REIT said.
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