Australia's Charter Hall Retail REIT sells two shopping centres for $148 mln (updated)

Charter Hall Retail REIT

11/12/2023 23:57

(Adds divestment details in paragraphs 3, 4 and 6, and outlook
in paragraph 5)
       Dec 12 (Reuters) - Australia's Charter Hall Retail REIT
 CQR.AX  announced on Tuesday divestment of two shopping centres
for a combined A$225.5 million ($148.00 million). 
    The property investment management company will sell
Southgate Square in South Australia for A$91 million, and
Rosebud Plaza in Victoria for A$134.5 million.
    The Southgate Square sale is expected to be settled in
February 2024 and the Rosebud Plaza sale in June 2024.
    "These sales demonstrate CQR's on-going active asset
management and focus on improving portfolio quality while
maintaining balance sheet strength," CEO Ben Ellis said in a
statement.
    The company reconfirmed its fiscal 2024 operating earnings
forecast to be about 27.4 Australian cents per unit, compared
with 28.71 Australian cents apiece logged in fiscal 2023.
    Shares of the company were up 0.3% at A$3.49 as of 23:48
GMT.    

($1 = 1.5237 Australian dollars)

 (Reporting by Rajasik Mukherjee; Editing by Subhranshu Sahu)
 ((Rajasik.Mukherjee@thomsonreuters.com;))