Learn To Invest
Stocks Special Reports LICs Credit Funds ETFs Tools SMSFs
Video Archive Article Archive
News Stocks Special Reports Funds ETFs Features SMSFs Learn
About

Company News Summary

APN Industria REIT Announces Acquisitions and Equity Raising

13 May 2019  |  18:06:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Acquisitions and Equity Raising Announcement

APN Industria REIT announced the acquisition of four industrial warehouses in Knoxfield and Kilsyth, two tightly held and land constrained markets in Melbourne Vic, for $38.25m. The portfolio is 100% leased with a 4.0 year weighted average lease expiry, providing opportunities to add value and generating an initial yield of 6.3%. The Acquisitions and associated transactional costs will be funded with a combination of debt and equity including a fully underwritten $30m institutional placement, and a non-underwritten SPP to eligible securityholders in Australia and NZ, expected to raise up to $5m. The Placement and SPP will be at an issue price of $2.73 per new stapled security and the remaining costs will be funded with 5-year bank debt following a loan increase and term extension.

Please click here for full details

See more ASX300 News Announcements