Sept 26 (Reuters) - Investec Australia Property Fund (IAP) :
- IAP ENTERED INTO AGREEMENTS FOR ACQUISITION OF THREE INDUSTRIAL PROPERTIES FOR A TOTAL CONSIDERATION OF AUD81 MILLION
- ACQUISITIONS OFFER RETURN PROFILE WITH AN INITIAL YIELD OF 7.3% AND CONTRACTED ANNUAL RENTAL GROWTH OF OVER 3%
- LAUNCHED A FULLY UNDERWRITTEN PLACEMENT OF 55.6 MILLION NEW UNITS TO RAISE A$84 MILLION AT A$1.52 PER NEW UNIT
- IAP REAFFIRMS GUIDANCE FOR FY20 FFO PER UNIT FORECAST OF 9.57 CENTS; AND FY20 DISTRIBUTION PER UNIT OF 8.88 CENTS
- FUNDS RAISED UNDER PLACEMENT WILL BE USED TO FUND ACQUISITIONS AND PART OF ASSOCIATED TRANSACTION COSTS
Source text http//reut.rs/2lRfJGu
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