The manager of Prime US Reit has agreed to acquire two properties in the United States for US$245.5 million (S$330.5 million), with the purchase to be partially funded through a private placement exercise to raise gross proceeds of at least US$80 million.

Comprising two freehold seven-storey Class A office towers, Sorrento Towers sits above a three-level podium garage at 5355 and 5375 Mira Sorrento Place, San Diego, California, and will be acquired by the real estate investment trust (Reit) at its valuation price of US$146 million.