Key Developments: Charter Hall Group (CHC.AX)
3.84AUD
8:01am IST
$0.19 (+5.21%)
$3.65
$3.75
$3.87
$3.74
196,140
783,697
$4.68
$2.17
Latest Key Developments (Source: Significant Developments)
Charter Hall Group's Core Plus Office Fund To Acquire Bank of Queensland Building
Charter Hall Group announced that its Core Plus Office Fund (CPOF), in a 50:50 partnership with a global institutional partner, has entered into a contract to acquire the Bank of Queensland Building in Brisbane. The building, which is currently under development, will comprise on completion approximately 24,800 square metres of lettable commercial office area, including 15 levels of PCA A-grade office space and 1,056 square metres of retail space. As part of the acquisition, which is due to complete on May 9, 2013, Charter Hall will provide all investment, property, leasing and financial management services for the partnership. Full Article
Charter Hall Group Announces H1 2013 Distribution
Charter Hall Group announced an interim distribution of AUD 0.098 per unit for the first half of fiscal 2013 (H1 2012: AUD 0.091 per unit). The record date is December 31, 2012 and the payment date is February 26, 2013. Full Article
Charter Hall Group Acquires 9 Castlereagh Street, Sydney
Charter Hall Group announced that its AUD 1.7 billion wholesale Core Plus Office Fund (CPOF) has contracted to acquire the Harry Seidler designed Sydney CBD office tower 9 Castlereagh Street for AUD 172.5 million, which is expected to generate a rental income of AUD 15.1 million on a fully leased basis. The purchase price includes AUD 4 million in income support and the payment of all outstanding incentives. Located in the heart of Sydney's financial district, 9 Castlereagh Street is a 35 level, A-Grade office building comprising 21,000 square metres of net lettable area. The building is multi-tenanted with tenants including Tokio Marine Management, Van Eyk Research, PTW Architects and Talent 2, and has a weighted average lease expiry of 3.0 years Full Article
Charter Hall Group Launches Wholesale Industrial Partnership
Charter Hall Group announced that it has established a new wholesale core industrial partnership with two Australian institutional investors for the acquisition and management of predominantly core Australian logistics properties. The new vehicle, the Core Logistics Partnership (CLP), has acquired two seed assets totaling AUD 103.1 million. Charter Hall Group has committed AUD 14 million, which represents an approximate 5.3% co-investment commitment to CLP. CLP will deploy its equity commitments first and then secure debt finance with a target 30% gearing ratio. Seed assets for CLP include: the 36,213 square metre AMCOR logistics facility at Scoresby in Melbourne, which was acquired from AMCOR Limited on a 10 year sale and leaseback for AUD 39.6 million, with the lease having fixed annual reviews of 3%. The acquisition reflects an initial yield of approximately 8%; and 50% tenants in common interest in the Metcash Distribution Centre at Canning Vale, Perth for AUD 63.5 million, acquired from the Australian Unity Diversified Property Fund at a yield of 8.7%. The approximately 100,000 square metre facility is 100% leased to a wholly owned subsidiary of Metcash and has a weighted average lease expiry (WALE) of 11 years and annual CPI increases. The property is co-owned with Charter Hall’s managed wholesale pooled fund, Core Plus Industrial Fund (CPIF), which acquired 50% of the property in March 2012. Full Article
Westpac Banking Corp Acquires Stake In Charter Hall Group
Charter Hall Group announced that Westpac Banking Corp has acquired 15,172,671 ordinary shares in the Company, which represents 5.08% of the voting power. Full Article
BT Investment Management Ltd Acquires Stake In Charter Hall Group
Charter Hall Group announced that BT Investment Management Ltd has acquired 15,172,671 ordinary shares in the Company, which represents 5.08% of the voting power. Full Article
Charter Hall Group Acquires Bay Village Shopping Centre
Charter Hall Group announced that a Charter Hall managed wholesale entity has entered into an unconditional contract to acquire Bay Village Shopping Centre in New South Wales for AUD 164 million, reflecting an 8% capitalization rate. The property will be held within a newly established unlisted wholesale trust (RP2) owned by an institutional partner who will hold an 80% equity interest with the remaining 20% equity (amounting to AUD 19.5 million) held by the Charter Hall Property Trust co-investment portfolio. Bay Village Shopping Centre is a modern sub-regional shopping centre located in the coastal town of Bateau Bay, 90 kilometers north of Sydney. Full Article
Charter Hall Group To Take Over PFA Management-Reuters
Reuters reported that Charter Hall Group had agreed to take over the management of unlisted retail fund PFA Diversified Property Trust worth AUD444.5 million. The deal, which will expand Charter Hall's assets under management base to AUD9.5 billion ($9.6 billion). Unit holders of PFA, which owns office assets in Australia and is currently under management of Brisbane-based APGF Management Ltd, will vote on the appointment of Charter Hall as a manager on July 25. Full Article
Charter Hall Group Announces H1 2012 Distribution
Charter Hall Group announced that Charter Hall Funds Management Limited, as responsible entity for Charter Hall Property Trust and Charter Hall Limited (Charter Hall or the Group), has declared a distribution of AUD 0.0910 per security for the half year of 2012 (year ending June 30, 2012). The total distribution per security for the year ending June 30, 2012, will be AUD 0.182 per security, which is a 10.0% increase on the AUD 0.165 per security, for the corresponding year ending June 2011. The payment date is on August 27, 2012, and the record date is June 29, 2012. Full Article
Charter Hall Group's Direct Industrial Fund Acquires Facility In Hoppers Crossing
Charter Hall Group announced that its Direct Industrial Fund (DIF) has acquired its fifth asset, the Woolworths (Masters Hardware) National Distribution Centre at 364-426 Old Geelong Road, Hoppers Crossing in Victoria, for AUD 39.35 million. Full Article
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