Propertylink (ASX:PLG) is selling its 320 Pitt Street, Sydney property for $275 million
The Australian property investment manager says the sale will deliver a 40 per cent internal rate of return to investors in the Propertrylink Office Partnership II fund.
The sale is expected to occur in July 2017 and will contribute $12.5 million in after tax earnings in FY2018.
The company says since its IPO, it has increased its WALE to 4.5 years and its occupancy to 95.4 per cent.
Shares in Propertylink (ASX:PLG) are trading flat at 84 cents.