News Snapshot:
Link Reit has invested in three retail properties in Sydney, in a diversification move after Asia’s largest real investment trust reported its second-worst annual revenue growth. The Hong Kong-based company paid A$538.2 million (US$398 million) for 50 per cent of a trio of assets comprising the Queen Victoria Building (QVB), the Strand Arcade and The Galeries in Sydney, according to a statement released late on Sunday. “The acquisition of this prime retail portfolio is part of our Vision 2025 growth strategy to diversify and improve our portfolio mix,” Link’s chairman Nicholas Allen said. “We are excited to have captured an...
