Portfolio Weighting Moves Further Towards Office and NSW; FVE Unchanged at AUD 2.96
No-moat Growthpoint Properties Australia increased its distribution guidance by 1% to AUD 21.5 cents per security for fiscal 2017, as higher rent receipts from the acquisition of the GMF portfolio offset lost rent from the recent sale of four logistics assets for AUD 142 million. Updated distribution guidance had been pending decisions on capital management following the GMF transaction.The four Victorian assets sold were part of the industrial portfolio and included the Woolworths distribution...
Growthpoint Properties Australia is engaged in property investments, focusing on Australian property in the industrial, office and retail sectors. As of June 30 2016, Co.'s industrial portfolio had 38 properties with a total lettable area of 874,156 square meters and Co.'s office portfolio had 20 properties with a total lettable area of 235,389 square meters.
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