News and Announcements
Acquisition of Interest in Bateau Bay Square by Charter Hall
- Published October 27, 2015 6:24PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
26th October 2015, ASX Announcement
Charter Hall Retail REIT (ASX:CQR) (CQR or the REIT) today announced that it has executed a conditional contract to acquire a 47.5% interest in Charter Hall Retail Partnership No. 2 (CHRP2 or the Partnership) which owns Bateau Bay Square on the Central Coast of New South Wales (NSW) CHRP2 is a management investment trust held between Charter Hall Group (ASX:CHC) (Charter Hall) and two institutional investors.
The REIT will acquire units in the Partnership from Charter Hall (42.5%) and one of the existing unitholders (5%) whoe will exit the Partnership following the successful completion of the contract. The transaction has been negotiated at arm’s length and is on the same terms as recent dealings in the Partnership units.
To read the full announcement, please click here.
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