CQR - Sale of New Zealand Assets
Charter Hall Retail REIT (ASX:CQR) (the ‘REIT’) today announced that it has completed the sale of its remaining half interest in two New Zealand assets for NZ$8.2 million, completing the final sell down of the REIT’s offshore exposure.
Today’s completion has resulted in A$7.3 million of net equity proceeds being repatriated to Australia.
Scott Dundas, the REIT’s Fund Manager, said: “We are pleased to have completed the sell down of all our offshore portfolios, with the REIT now focused solely on the three key drivers of growth being active management, portfolio enhancement and capital management.
“Charter Hall Retail REIT is well positioned to deliver a secure and growing income stream through the REIT’s three key drivers and by focusing on our $2.0 billion Australian portfolio,” Mr Dundas added.
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