An acquisition was made in Bowen in the Whitsunday Region of North Queensland. Image: Canva.
  • Eureka made a $5.1M acquisition in Queensland
  • AOF sold 32 Phillip Street in Parramatta for $66M
  • Two mergers progressed to the next stage

Only halfway through the week and two major mergers have progressed to the next stages of the process. Eureka also made a $5.1 million purchase in the Whitsundays.

The broader market

The ASX200 closed today at 7,405.40 points.

Image: Google.

Top-performing ASX listed real estate company shares: [DD Month] 2021

Company Code Price ($) Change (%)
Axiom Properties AXI 0.065 +18.19
REA Group REA 168.94 +5.13
HomeCo HMC 7.71 +4.90
AIMS Property Securities Fund APW 1.24 +4.64
Fletcher Building FBU 6.78 +2.73

Source: ASX

In addition to the top performers, the bottom five (from fifth lowest to lowest) were:

Least-performing ASX listed real estate company shares: [DD Month] 2021

Company Code Price ($) Change (%)
McGrath Limited MEA 0.585 -0.85
Elanor Retail Property Fund ERF 1.075 -1.83
Eureka Group EGH 0.67 -2.19
Servcorp SRV 4.14 -3.04
Openn Negotiation OPN 0.13 -7.14

Source: ASX

The movement

The week kicked off with news from Australian Unity Office Fund (ASX: AOF), announcing the sale of 32 Phillip Street in Parramatta. The sale price of $66 million reflects a 5% premium to the independent valuation of $62.75 million as at 30 June 2021.

Irongate (ASX: IAP) announced its inclusion on the FTSE EPRA Nareit Global Developed Index, IAP CEO, Graeme Katz, said “Inclusion in this global index is a significant milestone for the business, reflecting the growth in its size and liquidity.”

Eureka (ASX: EGH) also announced on Monday that the company entered into a heads of agreement to acquire a 46 unit village in Bowen, located in the Whitsunday Region of North Queensland.

The consideration is $5.1 million, excluding transaction costs.

Finally for Monday, Ingenia (ASX: INA) director Gary Shiffman resigned, and Victory Offices appointed Keith Pollocks as Chief Financial Officer, effective January 2022.

On Tuesday, Centuria Capital Group (ASX: CNI) announced that it had introduced a distribution reinvestment plan (DRP) effective from Tuesday 7 December 2021. The company noted the DRP important features included:

  • Voluntary participation;
  • Under the DRP, securities will be issued at a 1.5% discount to a market price;
  • The DRP issue price will be calculated on the 10 day value weighted average price (VWAP) of all securities sold in the ordinary course of trading on the ASX automated trading system starting on the third business day after the record date
  • No fees or brokerage for securities issued under the DRP rules;
  • Ability to join, withdraw, or vary participation in the DRP at any time, and
  • Securities acquired under the DRP will rank equally with existing securities on issue.

ALE Property Group (ASX: LEP) announced that the NSW Supreme Court made orders approving the company scheme of arrangement and provided the judicial advice requested by ALE in respect of the trust scheme under which a consortium managed by Charter Hall Group (ASX:CHC) comprising Charter Hall Long WALE REIT (ASX:CLW) and Hostplus will acquire all the stapled securities in ALE.

The NSW Supreme Court also approved the convening of meetings to consider the proposed merger of Aventus and Home Consortium and the distribution of the scheme booklet.

Today, Unibail-Rodamco-Westfield (ASX: URW) announced that Carbon Disclosure Project awarded the company the highest grade.

For the fourth year in a row, Unibail-Rodamco-Westfield’s Better Places 2030 Corporate Social Responsibility (CSR) strategy received an “A” grade for its ambitious targets to reduce greenhouse gas emissions, mitigate climate risks and develop a low-carbon economy.

Elanor (ASX: ECF) released a market update, including the renewal of the Coles lease at NExus Centre, Upper Mount Gravatt, and a valuation increase for the Nexus Centre of 9% to $39.2 million.

Today also saw 360 Capital Group (ASX: TGP) announced it has entered into an agreement to sell its 50% interest in 360 Capital Digital Management.

That’s the week so far in ASX listed property companies.

Meetings and distributions

Distributions/Dividends announced:

Company Code Amount
Centuria Office REIT COF $0.0415
Charter Hall Group CHC $0.1966
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