June 6 (Reuters) - Propertylink Group PLG.AX
* 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: PLG.AX