ARE Noble Pty Ltd agreed to acquire Lots 1, 3, 4 and 5 of 77 King Street, Sydney from Keppel REIT (SGX:K71U) for AUD 160 million on November 5, 2015. ARE Noble Pty Ltd entered into a contract of sale to acquire Lots 1, 3, 4 and 5 of 77 King Street, Sydney from Keppel REIT (SGX:K71U), managed by Keppel REIT Management Limited for AUD 160 million on January 17, 2016. A deposit of AUD 16 million has been paid upon execution of the agreement. The remaining consideration shall be paid upon completion of the sale. The sale is expected to be completed in the first quarter of 2016. Keppel REIT Management intends to use the divestment proceeds to repay existing debt, fund general corporate and working capital purposes, and/or for future investment opportunities. Savills, JLL, Colliers International and McVay Real Estate acted as real estate advisor in the transaction.

ARE Noble Pty Ltd completed the acquisition of Lots 1, 3, 4 and 5 of 77 King Street, Sydney from Keppel REIT (SGX:K71U) on January 23, 2016.