- Roc and Macquarie battle it out for the takeover of Vitalharvest
- Sunland Group pauses trade and sells off Toowong land
- Dealt Group restructures, with a $93.4M capital raise to start soon
It’s the end of week wrap up for ASX listed real estate companies, and what a week, berries and Brisbane remain some of the top stories – a repeat of last weeks headline – Tasmania got a mention too.
Earlier in the week, Acumentis (ASX: ACU) acquired a Tasmanian valuations company for over half a million, in the process hoping to cut its own costs associated with sub-contracting in the state. Unfortunately for the company, a leasing deal originally announced in the half-yearly’s earlier in February fell through, the planned $0.3 million in annual rent no longer a reality.
Other big news in the first half of the week includes Centuria Capital Group’s (ASX: CNI) announcement of a joint venture with Medibank, the $64 million private hospital acquisition in Melbourne headlining many news outlets.
The other ASX listed Centuria company, Centuria Industrial REIT (ASX: CIP) announced a $39.6M divestment of 136 Zillmere Road, Queensland, the sale keeping smiles on the faces of investors when they saw the original 2020 purchase price of $32.5M.
More news from earlier in the week can be found here.
Unibail-Rodamco-Westfield (ASX: URW) notified the market of its European movements, disposing a total of three properties: “Village 3” sold to La Française Real Estate Managers on March 4 2021; “Village 4 and 6” sold to Perial AM on March 17 2021. The net disposal price came to €213 million, the company looking to dispose more properties throughout the year as part of a “€4 European asset disposal programme.”
Vitalharvest (ASX: VTH) continues to watch Macquarie Agricultural Funds Management and Roc Private Equity battle it out over who will eventually take over VTH. This week the company saw Roc “parry” the Macquarie bid with an increase in price. Previously Macquarie equalled the Roc bid at $1.08 per unit, Roc this week upped the offer to $1.12 per unit.
Sunland Group (ASX: SDG) paused trading on 18 March 2021, the company shortly afterwards announcing the sale of land to Consolidated Property Group. Located at 600 Coronation Drive, Toowong, Queensland, the total consideration is $43.5 million, the majority of which ($35.5M) is going to Consolidated. The remainder is going to an unnamed party for $8.0M.
Arena REIT (ASX: ARF) announced dividend distributions to shareholders at 3.725 cents per security, APN Convenience REIT (ASX: AQR) also announced dividends, valued at 5.475 cents per security.
Today saw two big news items: Dealt lodged its prospectus and PDS, and Irongate completes the PInkenba acquisition.
Dealt Group is set to be listed on the ASX soon, today it announced through Dealt Limited (ASX: DET, Dealt Group soon to take the code DET as well) that a prospectus and PDS had been lodged with ASIC. The capital raising efforts which may amount to $93.4M (the maximum set, the minimum set is $28.4M) are there to fund the restructuring of the company, a move Dealt says is to optimise the business.
Axiom Properties Limited (ASX: AXI) passed its resolution to return capital to its shareholders, almost $6.5M returned in cash to the hands of those who’ve put their confidence in the company; confident indeed, the company made massive profits as announced in their half-yearly results, revenues also saw meteoric rises. The company put it down to a big sale of land.
Irongate Group (ASX: IAP) announced the signing of a contract to acquire a Pinkenba property earlier in March. The acquisition of the $24.75M Queensland property on 153 Main Beach Road was announced as completed today.
Cedar Woods (ASX: CWP) announced late on Friday the West Australian Government confirmed that the company had been invited to stage 2 of the Market-led Proposals for the Swanbourne station precinct.
That’s this week in property listed ASX companies.