Charter Hall Long WALE REIT – Acquisitions, Equity Raising, Valuations and Upgraded Guidance

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Not for release to US wire services or for distribution in the United States

Charter Hall WALE Limited as responsible entity of the Charter Hall Long WALE REIT (ASX:CLW) (the REIT) today announces that it:

has entered into agreements to acquire interests in a national portfolio of 225 long WALE convenience retail properties leased to BP Australia Pty Ltd (BP) and a strategic industrial property in Huntingwood, Sydney leased to Arnott’s Biscuits Pty Ltd (Arnott’s) reflecting a property value of $619 million (the Acquisitions);
will undertake a fully underwritten $350 million equity raising (Equity Raising) to partially fund the Acquisitions and associated transaction costs;
has independently valued 92 of the REIT’s 158 properties, resulting in a $83.5 million net valuation uplift, or a 2.9% increase over prior valuations; and
upgrades FY20 Operating EPS guidance to 28.3 cents per security, barring any unforeseen events and no material change in current market conditions, which represents 5.2% growth over FY19 Operating EPS.

View ASX Announcement

View Equity raising - investor presentation

View Appendix 3B

View Cleansing Notice