Woolworths: APAC REIT acquires Woolworths’ Sydney HQ and data center for $336.8m

Oct 01, 2021 | Posted by Abdul-Rahman Oladimeji

Singaporean fund manager Aims APAC REIT has completed the acquisition of Woolworths’ Sydney headquarters and data center. AA REIT closed the transaction earlier in the week by paying AU$463.25 million (US$336.8m) to Inmark Asset Management Pty Ltd. In doing so, it has acquired the campus in Northwest Business Park in New South Wales, Australia.

The facility has 44,911 square meters (483,400 square feet) of space. It was constructed in 2005 and built on nine hectares of land. The facility also houses three separate office buildings that are linked by a central atrium. Aside from that, it also includes a Metro supermarket, café, gym, sporting facility, and a data center.

AA REIT says it is financing the acquisition through a combination of proceeds raised from security issuance and debt financing. The data center is currently 100% leased to Woolworths for another ten years.

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