July 28 (Reuters) - Arena Reit No 1 (ARF)
- Announced fy18 distribution guidance of 12.8 cents per security 2
- Announces acquisition of a portfolio of nine early learning centre (elc) properties under development for a total cost of $65 million
- Forecast fy18 distribution yield is 6.3%.
- Total cost includes property purchase price and project costs of $63.3 million plus stamp duty and associated transaction costs
- Acquisition will be partially funded via a fully underwritten institutional placement of $55 million
- Acquisition improves quality of arena's portfolio, is accretive to earnings
- acquisition is conditional upon completion of equity raising.
- institutional placement will be conducted at an issue price of $2.03 per security
- fy distributable income (earnings) per security (eps) of 12.3 cents
- fy net operating profit of $28.7 million, up 12 percent
- fy distribution per security (dps) of 12.0 cents
News: ARF Arena reit no 1 announced FY18 distribution guidance of 12.8 cents per security
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