Growthpoint Properties Australia up on agreement with TPG Angelo Gordon

Growthpoint Properties Australia

01/10/2024 04:07

** Shares of Growthpoint Properties Australia  GOZ.AX  rise
as much as 1.1% to A$2.700, on track for best day since late
Sept., if current gains hold
    ** Real estate manager entered into agreement with TPG
Angelo Gordon; TPG Angelo will buy overall 80% interest in six
Growthpoint industrial assets, with net sale proceeds of A$181
mln($125.45 mln)
    ** Analysts at Citi says deal is a "positive step for
Growthpoint's funds management strategy utilising differentiated
third party capital to grow the platform"
    ** Stock up 14.6% YTD as of last close

($1 = 1.4428 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))