June 3, 2018 / 10:40 PM / 2 months ago

Australia's Vicinity Centres plans $756.3 mln asset sale

June 4 (Reuters) - Australian real estate investment trust Vicinity Centres Re Ltd announced plans for the sale of up to A$ 1 billion ($756.30 million) of sub-regional and neighbourhood shopping centres to invest into the development of other properties.

No impact on fiscal 2018 funds from operations per security guidance is anticipated from the asset sale due to its timing, the company said in a statement on Monday.

$1 = 1.3222 Australian dollars Reporting by Ambar Warrick in Bengaluru; Editing by Sandra Maler

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