CQR - Sale of Windsor Marketplace
Charter Hall Retail REIT (ASX:CQR) (the REIT) today announced the Charter Hall Retail Partnership No.1 (CHRP1) joint venture, has entered into a put and call deed to sell Windsor Marketplace for $19.6 million (100% interest). The sale price represents a yield of 7.5% and is a 6.5% premium to the June 2014 book value.
Settlement is expected in the fourth quarter of FY15 and proceeds from the sale will be used to partially fund the acquisition of Brickworks Marketplace, expected to settle in mid CY15.
Fund Manager, Scott Dundas, said this transaction, combined with the acquisition of Brickworks Marketplace, reflects the REIT’s focus on strengthening and improving the quality of our Australian portfolio.
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