These are assets that have been decoupled from CAWF. The company told us that this approach would be used as it is a way of getting good value for some of the better assets. Until this point we didn't know which properties were being decoupled.
The rest of CAWF is being marketed separately along with CAF.
It looks to me like they didn't even start the process until the debt extension was confirmed, which would make sense given there was a delay agreeing with the banks who gets what once the sales go through. It may also mean though that CAWF and CAF have only been marketed for a short time as well.
Centro Bankstown is co-owned with syndicate MCS28 whereas the others are co-owned with CER. I guess whoever owns MCS28 must be aware of the sale... if not, they are now.
The fact that CER is not selling its 50% ownership is a positive IMO.
CNP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
