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Charter Hall Retail REIT Dissolution of Regency JV and Sale of United States Assets

22/03/2013

Charter Hall Retail REIT (ASX:CQR) (the ‘REIT’) today announced that it has sold its interest in the last United States (US) joint venture entity with Regency Centers.

As part of this transaction, the joint venture was dissolved and the four properties distributed betweenthe co-owners. The REIT received three properties and simultaneously sold these assets to a US based private investor.

The sale was completed for a gross sale price of US$49 million, in line with book value, and will realise net proceeds of approximately A$11 million, which will be reinvested into Australian acquisition opportunities or the REIT's redevelopment pipeline.

Fund Manager Scott Dundas said: "The sale is in line with the REIT’s stated strategy of selling down its offshore assets and reinvesting back into the Australian market. The REIT now has only three small wholly owned assets remaining in the United States, all of which are being marketed for sale."

With the dissolution and sale of the last Regency JV, 93% of the REIT’s net tangible assets are now located in the Australian market.

For further information, please contact:

Scott Dundas
Fund Manager
Charter Hall Retail REIT
T: +61 8295 1009
scott.dundas@charterhall.com.au
Philip Schretzmeyer
General Manager Finance
Charter Hall Retail REIT
T: +61 8295 1023
philip.schretzmeyer@charterhall.com.au
Investor enquiries:

Nick Kelly 
Head of Investor Relations
Charter Hall
T: +61 2 8908 4028 
nick.kelly@charterhall.com.au
Media enquiries:

Rachel Mornington-West
Head of Marketing and Communications
Charter Hall
T: +61 2 8908 4093
rachel.mornington-west@charterhall.com.au

About Charter Hall Retail REIT:

Charter Hall Retail REIT is a leading listed real estate investment trust with a portfolio of predominantly Australian high quality 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 $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 usiness 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 on Charter Hall Group and Charter Hall Retail REIT go to www.charterhall.com.au

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