Dec 22 (Reuters) - GDI Property Group Ltd GDI.AX :
* Acquisition of new property GDI.AX
* Exchanged contracts to acquire 50 Cavill Avenue, Surfers Paradise for $48.75 million
* Says GDI Property Group intends to fund the acquisition by a $75 million extension to its existing three year facility
* Says total capital expenditure over the first three years is expected to be in the vicinity of $10 million
* Anticipated that the acquisition will have minimal impact on GDI Property group's previous FY 2016 funds from operations1
* Anticipated that the acquisition will have minimal impact on distribution guidance of 8.2 cents and 7.75 cents per security respectively
* Source text for Eikon ID:nASXc3Bmcr