July 28 (Reuters) - Arena Reit No 1 ARF.AX
* Announced fy18 distribution guidance of 12.8 cents per security 2
* Announces acquisition of a portfolio of nine early learning centre (elc) properties under development for a total cost of $65 million
* Forecast fy18 distribution yield is 6.3%.
* Total cost includes property purchase price and project costs of $63.3 million plus stamp duty and associated transaction costs
* Acquisition will be partially funded via a fully underwritten institutional placement of $55 million
* Acquisition improves quality of arena's portfolio, is accretive to earnings
* acquisition is conditional upon completion of equity raising.
* institutional placement will be conducted at an issue price of $2.03 per security
* fy distributable income (earnings) per security (eps) of 12.3 cents
* fy net operating profit of $28.7 million, up 12 percent
* fy distribution per security (dps) of 12.0 cents