Company News Summary
Charter Hall Group Announces DIF Completes $115m Retail Equity Raising
Original announcement: DIF Completes $115M Retail Equity Raising
Charter Hall Group announced that its Direct Industrial Fund (DIF) has closed more than 5% oversubscribed, raising more than $115m since its launch in July 2010. DIF, a closed-end retail investor fund, currently has a $156m portfolio located across well-established Australian metropolitan industrial markets. The portfolio is 100% leased to national tenants including Australia Post, Coles Group, Woolworths, Grace Worldwide and Toll Holdings and has a weighted average lease expiry of 12.5 years. All equity raised has been allotted providing DIF capacity for new acquisition opportunities of up to $45m, which will take the fully invested portfolio value to approximately $200m.
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