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BRIEF-Charter Hall Retail REIT To Acquire Interest In 2 Sydney Metro Retail Centres

Published 18/09/2019, 11:58 am
© Reuters.  BRIEF-Charter Hall Retail REIT To Acquire Interest In 2 Sydney Metro Retail Centres
CQR
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Sept 18 (Reuters) - Charter Hall Retail REIT CQR.AX :

* TO ACQUIRE 20% INTEREST IN A $281 MILLION PORTFOLIO COMPRISING 2 SYDNEY METROPOLITAN SHOPPING CENTRES

* PORTFOLIO IS CURRENTLY OWNED BY CHARTER HALL RETAIL PARTNERSHIP NO. 6 TRUST

* ACQUISITION IS BEING FUNDED BY SALE PROCEEDS FROM RECENTLY ANNOUNCED DIVESTMENTS

* POST ACQUISITION, REIT TIGHTENS RANGE OF OPERATING EARNINGS PER UNIT GROWTH GUIDANCE FROM 1.5% - 2.0% TO 1.7% - 2.0% FOR FY20

* FY20 DISTRIBUTION PAYOUT RATIO RANGE IS EXPECTED TO REMAIN BETWEEN 90% AND 95% OF OPERATING EARNINGS

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