- Market closed at 6,828.70 today
- Market is down 3.9% for the week
- GPT Group was among the top five performers for today
This week, the ASX opened at 7,104.10 points, with the week seeing two large drops on Monday and Thursday.
GPT Group made the top five overall performers for today, with the week seeing a handful of acquisitions, completions, and executive changes and appointments.
The broader market
The ASX200 closed today at 6,828.70 points. The market is down 16.90 points for today or 0.25%, and down 278.2 points or 3.9% for the week.
The top five performers were lead by Life360, up 6.378%, with GPT Group coming second, up 2.669% for the day.
The movement
The week kicked off with Charter Hall Retail REIT’s (ASX: CQR) acquisition of a 49% interest in a 51 property portfolio owned by Z Energy. The remainder of the portfolio of long WALE convenience retail properties will be retained by Z Energy. CQR said the partnership represents an extension of the CQR’s existing relationship with Ampol and follows Ampol’s acquisition of the Z Energy business in New Zealand.
CQR acquired the 49% interest for A$120 million (NZ$132 million) on a 5.50% cap rate with annual NZ CPI rent escalations (2% floor, 5% cap), triple net leases and a 15.3-year WALE. Seventy-eight per cent of the portfolio’s 51 assets are located in metropolitan areas. The transaction is expected to settle at the end of October 2022.
Charter Hall Retail REIT also announced the divestment of its 52% interest in the Coles Distribution Centre, Adelaide, at book value to a Charter Hall managed fund. The $95.3 million proceeds are net of asset level debt and will be used to fund the acquisition of the Z Energy portfolio.
Brickworks (ASX: BKW) announced that Robert Bakewell will leave his position as CFO on 28 February 2023. He will be replaced by Grant Douglas.
On Thursday, Dexus (ASX: DXS) announced the appointment of Elana Rubin AM to the Board of Dexus Funds Management Limited as an independent non-executive director, effective 28 September 2022.
In late July, Silk Logistics (ASX: SLH) announced the acquisition of Fremantle Freight & Storage. SLH announced yesterday the completion of the acquisition.
Domain (ASX: DHG) announced the appointment of Amy Spira as Deputy Company Secretary, effective on the date of announcement – 1 September 2022.
Boral (ASX: BLD) announced the appointment of Amy Jackson as Company Secretary, effective on the date of announcement – 1 September 2022. Jackson replaces Dom Millgate.
Finally for Thursday, GPT Group (ASX: GPT) announced that effective on 1 September 2022, the company commenced management of UniSuper’s $2.8 billion direct real estate mandate.
Retail assets in the UniSuper portfolio under management by GPT include Karrinyup Shopping Centre in Western Australia, Marrickville Metro and Dapto Mall in New South Wales, and Malvern Central in Victoria. Office assets include 7 Macquarie Place and a 25 per cent interest in Brookfield Place in New South Wales.
Today, James Hardie (ASX: JHX) announced the appointment of Aaron Erter as CEO, effective immediately.
That’s the latest in ASX-listed real estate companies.
