MMP
COMPLETION OF ACQUISITION OF PORTFOLIO OF SIX PROPERTIES IN TOKYO
Further to the announcement of 10 April 2007, Macquarie Pacific Star Prime REIT Management Limited, as Manager of Macquarie MEAG Prime Real Estate Investment Trust (MMP REIT) is pleased to announce that HSBC Institutional Trust Services (Singapore) Limited, as Trustee of MMP REIT, has today completed the acquisition of a portfolio of six properties in Tokyo, Japan, (the Fund Creation Portfolio) for a total purchase price of ¥8,727 million. The purchase price and other acquisition costs of the Fund Creation Portfolio have been fully funded by debt.
The Fund Creation Portfolio was acquired from: Yugen Kaisha Triton Property and Fund Creation Co., Ltd. (Fund Creation); and Yugen Kaisha Kereos Property and Fund Creation respectively.
Fund Creation has been appointed as the local asset manager of the Fund Creation Portfolio for a period of one year from 30 May 2007, with the option for MMP REIT or its nominee to extend that appointment by another year.
With the completion of this acquisition, MMP REITs portfolio comprises eight assets located in Singapore and Japan, valued in aggregate at approximately S$1.6 billion.