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Charter Hall Retail REIT - Completion of $80 million institutional placement


Charter Hall Retail REIT (ASX:CQR) (the REIT) today announced the completion of its fully underwritten $80 million institutional placement (the Placement) to partially fund the acquisition of Rosebud Plaza.

Approximately 21.1 million new ordinary units were issued to institutional investors at a fixed price of $3.80 per unit, representing a premium of 14.5% to the REIT’s NTA at 30 June 2013.

Units issued under the placement will settle on 27 November 2013, with allotment to occur on 28 November 2013 from which time they will rank equally with existing Charter Hall Retail REIT units. The Placement was fully underwritten by Citigroup Global Markets Australia Pty Limited and Macquarie Capital (Australia) Limited who acted as Joint Lead Managers, Underwriters and Bookrunners.

Fund Manager Scott Dundas said: “The acquisition of Rosebud Plaza will further enhance our position as Australia’s leading owner of non-discretionary retail properties providing investors with a secure and growing income stream. In completing this transaction, we were also pleased with the support received from a combination of existing and new investors”.

The $8 million conditional placement of REIT units to Charter Hall Group will be subject to unitholder approval in January 2014 with allotment expected to occur in February 2014.

In addition, the REIT intends to offer all eligible Australian and New Zealand Unitholders the opportunity to subscribe for Charter Hall Retail REIT units under a Unit Purchase Plan (UPP). Units issued under the UPP will be issued at the Placement price and will rank equally with existing ordinary units with full entitlement to the distribution for the six months ending 31 December 2013. Additional information on the UPP will be made available to all eligible Australian and New Zealand Unitholders with the offer period expected to open on 3 December 2013 and close on 17 December 2013.

About Charter Hall Retail REIT
Charter Hall Retail REIT is a leading listed real estate investment trust with a portfolio of predominantly high quality Australian supermarket anchored neighbourhood and sub-regional shopping centres.

Charter Hall Retail REIT is managed by Charter Hall Group (ASX:CHC), one of Australia’s leading fully integrated property groups, with over 22 years’ experience managing high quality property on behalf of institutional, wholesale and retail clients. Charter Hall has over $10 billion of funds under management across the office, retail and industrial sectors. The Group has offices in Sydney, Melbourne, Brisbane, Adelaide and Perth.

The Group’s success is underpinned by a highly skilled and motivated team with diverse expertise across property sectors and risk-return profiles. Sustainability is a key element of its business approach and by ensuring its actions are commercially sound and make a difference to its people, customers and the environment, Charter Hall can make a positive impact for its investors, the community and the Group. 

For further information, please contact:

Scott Dundas
Fund Manager
Charter Hall Retail REIT
T +61 2 8295 1009

Philip Schretzmeyer
Deputy Fund Manager
Charter Hall Retail REIT
T +61 2 8295 1023

For investor enquiries, please contact:

Kylie Ramsden
Head of Listed Investor Relations
Charter Hall
T +61 8295 1016

For media enquiries, please contact:

Rachel Mornington-West
Head of Marketing and Communications
Charter Hall
T +61 8908 4093

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