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BRIEF-Growthpoint Properties Australia updates on acquisition of stake in IDR

Published 11/07/2017, 07:55 pm
Updated 11/07/2017, 08:00 pm
© Reuters.  BRIEF-Growthpoint Properties Australia updates on acquisition of stake in IDR
GOZ
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July 11 (Reuters) - Growthpoint Properties Australia Ltd GOZ.AX :

* Asx alert-Growthpoint acquisition of stake in IDR,IDR-GOZ.AX

* Growthpoint Properties has acquired an 18.2% interest in industria reit for approximately $68.1 million

* Acquisition is forecast to be accretive to Growthpoint's projected FY18 FFO

* Acquisition is not material to FY18 guidance provided to market, nor gearing

* Based on IDR management guidance provided on 13 June 2017, investment in IDR reflects FY17 FFO yield of 7.9% for co Source text for Eikon: ID:nASX4Gk5q1 Further company coverage: GOZ.AX

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