Ante Real Estate Trust is changing its name to Quattro Plus Real Estate.

The Sydney-headquartered property company is concurrently planning a consolidation of its units to reduce the volume of units it has on issue.

Additionally, Ante closed a A$56 million unit placement to Alceon Group Pty. Ltd., with proceeds from the placement going toward repaying an investment facility the latter provided the former.

The placement proceeds will also be used to redeem any outstanding A units that were issued and as working capital for the initial renovation costs of some of its property assets.