Macquarie Kicks off APN Industria REIT Raising for Acquisitions (Australian Financial Review)
December 10, 2020 – ASX-listed property fund APN Industria REIT was seeking an equity top-up on Thursday morning to fund four acquisitions.
The company was looking for $35 million in fresh funds via a placement of new shares, and had tapped Macquarie Capital to run and underwrite the deal.
New shares were being offered to funds at $2.86 each, which represented a 3.1 per cent discount to the last close.
Money raised would go towards funding the acquisition of four industrial properties for $92.1 million, including three warehouses at Adelaide Airport and one in Queensland.
The four properties were purchased on a 7.2 per cent blended initial yield.
The fund also said it would undertake a non-underwritten share purchase plan to snare up to $5 million to repay debt.
Read more here..
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