- The market recorded a new 100-day low
- Centuria announced a $202M acquisition in Brisbane
- MEA announced a partnership and investment in Honey Insurance
The ASX
The ASX200 closed down 123.30 points today, or 1.77% to 6,838.30 points. The market is down 9.9% for the month, opening at 7,589.80 on 4 January. Today’s close sets a new 100-day low.
Among the top five gains for the day, Beach Energy Limited (ASX BPT) moved up 8.812%, with real estate company Unibail-Rodamco-Westfield (ASX: URW) taking the fifth spot, moving up 3.03%.
Two tech companies made up the some of the larger declines for today’s trading, with Zip Co (ASX: Z1P) losing 9.658% and Wisetech Global (ASX: WTC) losing 9.846%.
Two resources made up the largest losses for the day: Evolution Mining (ASX: EVN) down 11.283% and Silver Lake Resources (ASX: SLR) down 11.045%.
Today’s news
The day kicked off with news from Centuria Industrial REIT (ASX: CIP), a notice of initial substantial holder was provided regarding State Street Corporation and subsidiaries. State Street became a substantial holder on 24 January and will have 5.01% voting power, holding 31,688,023 securities.
McGrath Limited (ASX: MEA) announced a partnership and investment in Honey Insurance Pty Ltd. McGrath CEO, Eddie Law, said: “Our investment in Honey follows the strategic move to digitise the Oxygen home loan business.”
The Honey investment and partnership entails:
- Investment of $6.5 million in Honey through a Convertible Note with a maturity date of 31 December 2023 which:
- At Honey’s next qualifying raise will convert to equity at a discount to the then current market value of Honey, or
- At maturity, at McGrath’s option, is either redeemable or converts to equity.
- A referral agreement for Honey insurance products through the McGrath company-owned business.
Centuria Property Funds Limited announced the resignation of Nicole Green as a non-executive director. Ms Green has taken up a position as Group General Counsel of Transurban.
Centuria Capital Group (ASX: CNI) announced the off-market acquisition of the Daily Needs Retail asset at West Village in Brisbane. The move was made on behalf of an existing international sovereign wealth fund’s institutional mandate, which will also see Centuria co-investing alongside the investor.
The $202 million transaction will occur across three phases, with the portfolio providing a 10.1 year WALE and 100% occupancy. The first phase will be a retail mall anchored by Woolworths/BWS and Harris Farms. Settlement is expected between 2022 and 2023.
Mustera (ASX: MPX) provided its quarterly update. Regarding the Forbes Residences, MPX said it reached financial close on project funding with the first drawdown occurring in December 2021. The project is now fully funded.
MPX also sold the remaining four apartments in its Victoria Quarter project for $1,707,800, with settlement in December 2021.
That’s the latest in listed real estate companies.
Distributions/Dividends announced:
| Company | Code | Amount |
| Australian Unity Office Fund (Update) | AOF | $0.038 |
| 360 Capital Group | TGP | $0.015 |
| Abacus Property Group | ABP | $0.0875 |
