APN Convenience REIT Announces Plans To Aquire 13 Properties For A$74.6 M (US$50.58 M)

APN Convenience REIT announced that it has entered into heads of agreements to acquire 13 service station and convenience retail properties in South Australia, Western Australia, Queensland and Northern Territory for a total consideration of $74.6 million (US$50.58 million) (excluding transaction costs).

The Acquisition Portfolio comprises 11 brand new or under construction strategically located sites plus 2 established sites leased to highquality operators with an on-completion weighted average lease expiry (WALE) of 13.8 years (as at 30 September 2019) and generating an initial yield of 6.2%.

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