Singaporean real estate investment trust AIMS APAC REIT (AA REIT) is buying Boardriders APAC HQ, a light industrial facility located in Queensland, Australia.
The asset, located in the Gold Coast suburb of Burleigh Heads, is situated on a 3.33-hectare freehold site with a purpose-built warehouse, an office building and a two-storey retail building.
The company is acquiring the property from GSM Rocket Australia, a wholly owned subsidiary of Boardriders Inc., for A$38.46 million ($27 million).
AA REIT said that the proposed deal, representing an opportunity to further diversify and strengthen its portfolio, expands its footprint in Queensland, Australia.