OUE REIT says Salesforce Tower deal not yet final

Its investment unit said it is only currently negotiating with Mitsubishi Estate Asia.

OUE REIT Management Pte. Ltd. (OUE REIT) clarified that its partial acquisition of Salesforce Tower, Sydney, with Mitsubishi Estate Asia Pte. Ltd. has not yet materialised.

Whilst OUE REIT Investment Trust is in exclusivity with Mitsubishi Estate about the acquisition of a partial stake in the tower, negotiations between the firms are currently ongoing and have not yet entered into an agreement, the firm said in a bourse filing.

At this juncture, there is no certainty that any transaction will materialise, it added.

The firm said that it made the clarification amidst recent media reports about the potential transaction involving the Sydney tower.

It said that Singapore remains its core market, but is also exploring opportunities in key gateway cities, including Sydney, for strong real estate fundamentals and stable growth prospects.

Should there be any material developments which warrant disclosure, OUE REIT will make the appropriate announcements on SGXNET, it said in the filing.

Unitholders and potential investors are advised to exercise caution when dealing in the units of OUE REIT, and to refrain from taking any action with their units, which may be prejudicial to their interests, it added.

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OUE REIT Management Pte. Ltd.

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