News: UPG Unity Pacific announces sale of property for $37.2 mln

June 17 (Reuters) - Unity Pacific Group (UPG) :

• Sale of 308 queen/88 creek street & distribution guidance (UPG)
• Contracted sale price for the property is $37.3 million
• Entered into an unconditional contract for the sale of 308 queen street/88

  creek street, Brisbane

• Says Unity Pacific expects sale of the property to result in a profit of $2.1

  million after transaction costs

• Intends to use net proceeds from sale to repay co's debt facility of $12

  million and distribute surplus funds to securityholders