Charter Hall’s DPF sells 50% share in Fosters portfolio to joint venture partner Wyllie Group for $18.3 million
Charter Hall Group (CHC) is pleased to announce that managed fund, Diversified Property Fund (DPF), has sold its 50% share of the Fosters Abbotsford portfolio in Melbourne for $18.3 million. The transaction is due to settle by 30 June 2009. DPF and Wyllie bought the portfolio in 2007 comprising 10 properties with lease terms ranging from 7 to 10 years. The implied yield on the latest transaction is 8.15% and represents a 9% discount to the December 2008 Independent book value.