asx-wrap-feature
Image: Canva.
  • Three deals took place across Canada, Germany, and the USA
  • 6 positions were either appointed or vacated
  • CIM will be removed from the ASX effective prior to the open of trading next Tuesday

Some international deals took place over the course of this week, and we saw CIMIC say goodbye to the ASX following a takeover by HOCHTIEF.

While some companies may be offering ‘another shrimp on the barbie’, one company offered a Garnele, and another simply proffered prawns.

The broader market

The ASX200 closed today at 7,478 points – up from the previous close of 7,442.80. The market rose sharply before dipping within an hour of trade. However, it increased again to level around where it peaked in the morning.

asx 8 april
Source: Google.

 

Top-performing ASX listed real estate company shares: 8 April 2022

Company Code Price ($) Change (%)
Openn OPN 0.275 +10
US Masters Residential Property Fund URF 0.26 +8.33
US Student Housing REIT USQ 1.30 +3.59
Aspen Group APZ 1.70 +3.03
Desane Group Holdings DGH 1.19 +2.71

Source: ASX

The movement

Monday began with news from Land and Homes Group (ASX: LHM), the company’s director Patrick Kho announced his resignation. Mr Kho was appointed to as a director in 2016.

Domain (ASX: DHG) announced the successful completion of the institutional component of its raising for the acquisition of Realbase.

Details of the acquisition here.

GARDA Property Group (ASX: GDF) announced a leasing update to the market, noting that Fulton Hogan has committed to a new six-year lease at 572-576 Swan Street, Richmond. Fulton Hogan occupied 1,847 square metres since 2010, and will remain in the building until June 2028.

Abacus Property (ASX: ABP) announced that Rob Baulderstone will retire as Chief Financial Officer, after 18 years with the group. Mr Baulderstone will remain with the company until 31 August 2022, and Evan Goodridge will be appointed CFO effective 1 July.

Finally for Monday, Unibail-Rodamco-Westfield (ASX: URW) announced the sale of Gera Arcaden in Germany to an institutional investor.

The transaction is expected to be completed in the second quarter of 2022, with the total agreed acquisition cost for Gera Arcaden being €116 million. Based on the conversion rate at the time of writing that equates to just under A$169 million.

More details here.

On Tuesday, National Storage REIT (ASX: NSR) announced Laurence Brindle will retire from the board as chairman and non-executive director, effective that Tuesday. Anthony Keane will assume the role of chairman, effective the same day.

On Wednesday, CIMIC (ASX: CIM) held its annual general meeting, with the remuneration report and re-election of David Robinson as a director both passing with over 95% majorities.

Yesterday, Openn Negotiation (ASX: OPN) announced two deals across North America. The company will run a pilot with The Canadian Real Estate Association (CREA), and a subscription agreement was entered into with American multiple listing service (MLS) company Triangle MLS Inc.

More details here.

Waypoint REIT (ASX: WPR) announced the appointment of Susan MacDonald as a director of WPR, effective from 1 May 2022.

Scentre Group (ASX: SCG) avoided a second strike at its annual general meeting, with the remuneration report seeing over 95% of the votes in favour.  On 8 April 2021, over 50% of SCG shareholders voted against the remuneration report.

Thursday also news from CIMIC (ASX: CIM) following the board approved, off-market takeover offer from HOCHTIEF. S&P Dow Jones Indices will remove CIMIC Group Limited from the S&P/ASX 200 effective prior to the open of trading on Tuesday, 12 April, 2022. CIMIC Group Limited will be replaced by HomeCo Daily Needs REIT (XASX: HDN), in the S&P/ASX 200 effective prior to the open of trading on Tuesday, 12 April, 2022.

Today, McGrath (ASX: MEA) announced John McGrath will be appointed MD and CEO, effective 8 April 2022.

Waypoint REIT (ASX: WPR) announced that CFO Kerri Leech resigned to pursue another career opportunity. Ms Leech will remain with WPT into Q3 2022, with a replacement yet to be found.

That’s the latest in ASX listed real estate companies, where there were six changes of the guard and three international deals.

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