- Market closed 0.07% off 52 week highs
- Primewest board accepted Centuria takeover offer
- Vitalharvest received MAFM offer for $1.295
The first end of week wrap is another quiet one for real estate.
It wasn’t quiet for the rest of the market though, the ASX 200 hit new highs after lunch.
The mid-week wrap can be found here.
The broader market
Today the ASX 200 crept slightly over 7,300 points, a record high for the market.
The market has since closed at 7,295.40, a 0.49% gain from the previous close and the strongest performer was ARB Corporation, a 4×4 accessories company.
At the close of markets today, the top-performing real estate companies are:
Top-performing ASX listed real estate companies
| Company | Code | Price | Change (%) |
| Tian An | TIA | 0.31 | +3.33 |
| Proptech Group | PTG | 0.79 | +3.27 |
| Eureka | EGH | 0.595 | +2.59 |
| Rural Funds | RFF | 2.55 | +2.41 |
| Domain | DHG | 4.82 | +2.34 |
Source: ASX
The movement
It was a quiet end to the week with little other than admin.
Centuria Capital Group (ASX: CNI) completed four affordable housing projects across New South Wales. Worth $72.2 million, the company said foresight from back in 2018-19, the company had already put its money on the sector.
Victoria and Queensland saw six hotel pubs divested by the aptly named ALE Property Group (ASX: LEP), the properties went for a combined $72.86 million, with a 4.4% weighted average yield and 24.2% weighted average premium to book value.
Charter Hall Long WALE REIT (ASX: CLW) successfully completed the remaining portion of its raise to fund government occupied property acquisitions. The raise generated the remaining $81 million required, following the $169 million from the institutional entitlement offer.
Finally this week, Primewest (ASX: PWG) announced that the Board has accepted and recommended to security holds that they accept the Centuria (ASX: CNI) takeover and merger offer. An offer extension announcement was made on Thursday, from 17 June to 24 June, today, Primewest announced the acceptance of the deal. Currently, Centuria hold 76% of Primewest.
‘Tis a dry end to the week for ASX listed real estate, may I suggest sir or madam consider the millennials’ take on what a stock market is: cryptocurrency. The Property Tribune recently reported on what tax time might look like if you invest in that new fangled thing.
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