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BRIEF-Growthpoint Properties Australia updates on acquisition of stake in IDR
July 11, 2017 / 9:58 AM / 15 days ago

BRIEF-Growthpoint Properties Australia updates on acquisition of stake in IDR

1 Min Read

July 11 (Reuters) - Growthpoint Properties Australia Ltd :

* Asx alert-Growthpoint acquisition of stake in IDR,IDR-GOZ.AX

* Growthpoint Properties has acquired an 18.2% interest in industria reit for approximately $68.1 million​‍​

* Acquisition is forecast to be accretive to Growthpoint's projected FY18 FFO

* Acquisition is not material to FY18 guidance provided to market, nor gearing

* Based on IDR management guidance provided on 13 June 2017, investment in IDR reflects FY17 FFO yield of 7.9% for co Source text for Eikon: Further company coverage:

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