June 6, 2017 / 12:02 AM / in 2 months

BRIEF-Propertylink Group divests 320 Pitt Street for $275 million​

June 6 (Reuters) - Propertylink Group

* ‍Propertylink divests 320 pitt street for $275 million​

* FY2017 guidance of distributable earnings of 6.67 cents per security & distribution of 6.321 cents per security reconfirmed

* ‍Propertylink office partnership II fund entered into a contract with ara Australia and Straits real estate for sale of 320 Pitt Street​

* Completion of sale is expected to occur in July 2017 and will generate a performance fee of approximately $17.9 million to propertylink

* Performance fee from sale will contribute $12.5 million after tax to distributable earnings in fy2018 Source text for Eikon: Further company coverage:

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