asx-wrap-feature
Image: Canva.
  • The market closed at 6,747.00 points
  • The market is down 156.0 points or 2.3% for the week
  • Major news included the leasing of a macadamia farms

Given the less than stellar week, indeed fortnight, for the ASX200, let us instead rejoice in the fact it is now officially 100 days until Christmas; lest the Grinch steal any more from the index.

It was a quiet week for real estate on the ASX, with a macadamia orchard lease announced at the beginning of the week, an equity raise for Aspen, and a handful of updates punctuating the week thereafter.

The broader market

The ASX200 closed today at 6,747 points, down 95.90 points or 1.40%. The market is down 156 points for the week or 2.3% since Monday.

asx16092022
Image: Google.

The movement

Monday went nuts when Rural Funds Group (ASX: RFF) announced a 40-year macadamia orchard lease to The Rohatyn Group. Under the agreement, up to 3,000 hectares of orchards will be leased for four decades.

This lease will incorporate orchards in Maryborough, Bundaberg and Rockhampton.

The agreement will be for an initial 1,200 hectares, an additional 1,800 hectares in FY24, subject to Rockhampton’s orchard water supply system being completed. Orchard development and management services will be provided by RFM and its wholly owned subsidiary RFM Macadamias Pty Ltd (RMA).

The full story here.

Brickworks (ASX: BKW) announced its full year results announcement will be shifted from 22 September to Wednesday 21 September due to the public holiday announced to mark the passing of Queen Elizabeth II.

On Tuesday, Aspen (ASX: APZ) provided a business update and announced a equity raising.

Aspen noted demand for its products remains strong. Over the three years to FY22, APZ delivered growth in Operating Earnings per security of 19% per annum and growth in NAV per security of 17% per annum.

APZ also said the momentum continued over the first two months of FY23. (percentage changes are compared to the previous corresponding two month period in FY22):

aspen-fy23-pre-results
Source: Aspen.

The company also announced a fully underwritten institutional placement to raise $36.34 million and a non-underwritten SPP to raise up to a further $3 million. The institutional placement will have an issue price of $1.58 per APZ security. The issue price of securities under the SPP will be $1.58 per security.

On Wednesday, Aspen (ASX: APZ) announced the successful completion of the institutional placement, raising $36.34 million through the issue of 23 million new APZ shares.

Eureka (ASX: EGH) confirmed it has completed the acquisition of the Management and Letting Rights together with 55 of the 72 units at a village in Eagleby in South-East Queensland. The village has been operated by Oxford Crest and provides affordable rental accommodation for seniors.

Growthpoint (ASX: GOZ) announced on Thursday it has completed the acquisition of 100% of the shares in Fortius Funds Management.

Today, Boral (ASX: BLD) announced Vik Bansal will commence as CEO and Managing Director of the company on 10 October 2022.

That’s the latest in ASX listed real estate companies.

~~

For full details of any above mentioned stories, please see the relevant company’s original ASX announcements and related documents.



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