trending Market Intelligence /marketintelligence/en/news-insights/trending/BhNXMHzo9rP_Pz0oJZpSmA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Growthpoint revises guidance, completes A$46M Australian portfolio buy

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

Growthpoint revises guidance, completes A$46M Australian portfolio buy

Growthpoint Properties Australia revised its fiscal year 2018 guidance for funds from operations to a minimum of 24.3 Australian cents per share from at least 23.6 cents per share, representing a 3.0% uplift.

It is also targeting distributions of 22.2 cents per share, with a 91.4% payout ratio as opposed to the 22.0 cents per share it expected to pay earlier that reflected a 93.2% payout.

The change in guidance comes on the back of its acquisition of an 18.2% interest in Industria REIT as well as the completion of the A$46 million purchase of an industrial portfolio at Perth Airport, Australia.

The portfolio comprises four modern industrial warehouses at Lot 11 and Lot 1, Part Lot 9 on Tarlton Crescent, and Lot 6 and Lot 7 on Hugh Edwards Drive.

The deal reflects an initial passing yield of 8.13% and raises the property count in the company's portfolio to 57, valued at A$3.2 billion in total.