22 May 2013 10:45
22 May 2013
REDEFINE INTERNATIONAL P.L.C.
("Redefine International" or the "Company")
Cromwell announces AUD405 million acquisition of NSW Portfolio
Redefine International is pleased to announce that its associate company, the Cromwell Property Group ("Cromwell"), has entered into unconditional agreements to purchase a portfolio of seven office assets from the NSW State Government ("NSW Portfolio"), with settlement anticipated to occur in mid June 2013. The total consideration for the NSW Portfolio is AUD405 million, which represents an attractive initial portfolio yield of 9.0%.
Full details of the acquisition can be found at http://www.cromwell.com.au/aboutcromwell/newsroom/.
Cromwell is an Australian Property Trust listed on the Australian Stock Exchange, in which the Company currently has a 16.09% interest held through its wholly-owned subsidiary Redefine Australian Investments Limited.
Further enquiries:
Redefine International Property Management Limited Investment Adviser |
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Michael Watters, Stephen Oakenfull | Tel: +44 (0) 20 7811 0100 |
FTI Consulting Public Relations Adviser |
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Stephanie Highett, Dido Laurimore, Faye Walters | Tel: +44 (0) 20 7831 3113 |