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Growthpoint Properties Australia Announces Completion of Acquisition and Upgrades to FY2018 Guidance

09 Oct 2017  |  09:27:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Acquisition settlement, upgrade to guidance

Growthpoint Properties Australia announced the Acquisition of Perth Airport industrial properties complete. Further to the announcement dated 13 July 2017, it confirms that settlement of the acquisition of four adjoining, modern industrial warehouses at Lot 11 and Lot 1, Part Lot 9, Tarlton Crescent and Lot 6 and Lot 7, Hugh Edwards Drive, Perth Airport, WA for $46m has occurred. The properties provide an initial passing yield of 8.13%. As a result of the settlement, the recent acquisition of an 18.2% interest in Industria REIT and favourable leasing outcomes over the first quarter of the FY2018.

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