Company News Summary
Charter Hall Group Announces Acquisition of $164M Bay Village Shopping Centre
Original announcement: Acquisition of $164M Bay Village Shopping Centre
Charter Hall Group announced that a Charter Hall managed wholesale entity has entered into an unconditional contract to acquire Bay Village Shopping Centre in New South Wales for $164m, reflecting an 8% capitalisation rate. The property will be held within a newly established unlisted wholesale trust (RP2) owned by a global high quality institutional partner who will hold an 80% equity interest with the remaining 20% equity (amounting to $19.5m) held by the Charter Hall Property Trust co-investment portfolio. The acquisition is due to be completed in late August 2012.
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