I'll have a punt what CER's share of the proceeds are.
Refer to pg 28 of supplemental information report.
First calculation is total acerage of Hannaford Plaza (page 28) as a percentage of total acerage of centro properties group 3 (page 27) and centro shopping america trust portfolio (page 29) not including Enfield Square (page 31).
= 179909 (page 28) / 30,468,688 (page 31) = 0.59%
2nd part of calculation is multiplying 0.59% by CER's share of purchase amount of 3,461,088,209 (page 31)
= Total estimated purchase price = 21,645,159
However book value of US properties written down by about 10% in last year. Refer to CER presentation on 29 August (page 11)
Therefore estimated book value approximately $19.5 million
Lets say for conservative purposes, the property was sold at a 10% discount to current book value. THat would make the proceeds of the sale for CER about $17.5million.
Anyway that's my rough estimate.
Cheers
CER Price at posting:
8.5¢ Sentiment: Buy Disclosure: Held
