News: MGR Mirvac Says Secures Suncorp As Major Tenant For Brisbane Asset

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    July 16 (Reuters) - Mirvac Group (MGR) :

    • MIRVAC SECURES SUNCORP AS MAJOR TENANT FOR BRISBANE ASSET
    • MIRVAC HAS ENTERED INTO AN AGREEMENT WITH M&G ASIA PROPERTY FUND FOR SALE OF A 50 PER CENT INTEREST IN 80 ANN STREET
    • MIRVAC WILL PAY M&G A COUPON RATE OF 5.25 PER CENT THROUGHOUT CONSTRUCTION PERIOD
    • TOTAL CONSIDERATION FOR 50 PER CENT INTEREST OF COMPLETED DEVELOPMENT IS $418 MILLION
    • M&G WILL FUND 50 PER CENT OF DEVELOPMENT COSTS VIA A FUND THROUGH AGREEMENT THROUGHOUT CONSTRUCTION PERIOD
    • HAS ALSO EXERCISED A PUT-AND-CALL OPTION WITH WEE HUR TO ACQUIRE 80 ANN STREET FOR A TOTAL CONSIDERATION OF $79 MILLION
 
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Last
$2.30
Change
0.020(0.88%)
Mkt cap ! $9.075B
Open High Low Value Volume
$2.28 $2.32 $2.27 $27.19M 11.82M

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