News about Paragon REIT —
SPH REIT is expanding further in Australia with the acquisition of a 50% stake in the Westfield Marion Shopping Centre within the Adelaide region. The mall, a freehold property, has 3 floors of retail and 5 floors of office space. Occupancy stands a high 99.3% and WALE is 4.2 years by income.
The funding for the A$670 million purchase price will come from debt and/or equity, to be determined later.