All good news:29 June 2007AUSTRALAND WHOLESALE PROPERTY FUND NO....

All good news:

29 June 2007
AUSTRALAND WHOLESALE PROPERTY FUND NO. 6
Australand is pleased to announce it has closed its offer of units in Australand Wholesale Property Fund No. 6 (AWPF6). As announced on 24 May 2007, AWPF6 is the sixth of Australand’s wholesale property trust offerings.
AWPF6 has raised $155 million in equity and, together with AWPF6 debt facilities, the Fund has acquired, from the Australand Property Group, a portfolio of 8 high quality commercial and industrial properties located in NSW, Victoria and South Australia with a total on completion value of $215 million.
Australand is delighted with the support received for AWPF6 from institutional investors to date, having sold $90 million of the equity on issue in the first 4 weeks of marketing.
Australand currently holds a stake of approximately 42% in AWPF6. Given ongoing investor interest, Australand intends to continue the marketing process, with a view to selling further equity in the Fund, reducing its stake to between 10% and 19.9%.
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