In addition, HRPT will "assume or prepay" A$46.4 million of the fund's debt, according to a release. The properties total 1.4 million square feet in Australia, which are 90% leased to 16 tenants. The fund was a subsidiary of Sydney-headquartered AIMS Financial Group. The leases are average weighted for five years in five Australian states: three properties in New South Wales, two properties in Victoria, two properties in Western Australia, two properties in Tasmania and a single property in Queensland.

AIMS will continue to manage the property for the American trust and the properties will, HRPT hopes, serve as a platform for future Australian investments. The acquisition is pending approval of MIF's shareholders, as well as "certain conditions applicable to cross border transactions such as Foreign Investment Review Board." The trust will use cash and available drawing capacity under its unsecured credit facilities to subsume MIF. Currently HRPT has a worldwide portfolio of $6.6 billion. HRPT did not respond to GlobeSt.com inquiries by deadline.