Hong Kong, Melbourne - Link Asset Management Limited (Link), the manager of Link Real Estate Investment Trust (Link REIT; Hong Kong stock code: 823) announced today (Wednesday) that Link has closed an AUD 443.95 million five-year secured loan with Australia and New Zealand Banking Group Limited (ANZ). It is the first loan that Link raised outside of Greater China and marked an important step for Link to expand business in Australia.
This bilateral loan is used to fund Link’s purchase of 100 Market Street, the first real estate investment by Link in Australia which was approved by the Australian Foreign Investment Review Board. The loan was guaranteed by Link Properties Limited and The Link Holdings Limited and was secured by the property at 100 Market Street.
George Hongchoy, Link’s Chief Executive Officer, said, “We are pleased to have signed the AUD loan at an attractive rate on our first attempt of tapping into the domestic loan market in Australia. ANZ Bank has extended solid support in funding our pilot investment out of Hong Kong. It is a stepping stone for Link to establish a footprint in the real estate investment market in Australia.”
Commenting on today’s announcement, Patrick Vizzone, Head of Coverage, Hong Kong at ANZ said, “ANZ is pleased to support Link on its first transaction outside Greater China. Connecting our customers to trade and capital flows is at the centre of ANZ’s strategy, and we look forward to supporting future opportunities which take advantage of our home markets strength and International network.”
The acquisition of 100 Market Street was announced in December last year and was completed on 7 April.
Link Real Estate Investment Trust (Hong Kong stock code: 823), managed by Link Asset Management Limited, is a leading retail-focused REIT in the world. Listed in 2005 as the first REIT in Hong Kong, Link has been 100% held by public and institutional investors and is a Hang Seng Index constituent stock. From its home in Hong Kong, Link manages a diversified portfolio including retail facilities, car parks and offices spanning Hong Kong, Beijing, Guangzhou, Shanghai, Shenzhen, London and Sydney. Link seeks to extend its portfolio growth trajectory and grasp expansion opportunities in different markets in pursuit of our medium-term target Vision 2025. For details, please visit https://www.linkreit.com/.