AIMS APAC REIT: In exclusive due diligence on Sydney property

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AIMS APAC REIT (AA REIT) is in exclusive due diligence on the Avaya House property located in Macquarie Park, in Sydney, Australia, the REIT said in a filing to SGX Friday.

“No binding agreement has been entered into in respect of the acquisition of the property. There is also no certainty that AA REIT would acquire the property,” AA REIT said.

Avaya House is a 10-storey, Grade-A commercial building with three levels of basement parking containing more than 500 carpark lots, located in northern Sydney.

The REIT said it made the announcement in response to media reports about a proposed acquisition of the Avaya House property.

In 2016, Charter Hall Office Trust reportedly sold the Avaya House property to B1 Group and Shimao for A$118 million.