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ABACUS GROUP — Capital/Financing Update 2014
Jun 9, 2014
64280_rns_2014-06-09_3204487f-8a4c-46a9-b010-018e6c135f2c.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
Sale of industrial portfolio
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Abacus Property Group and Abacus Diversified Income Fund II ( ADIF II ), an unlisted retail fund managed by Abacus Property Group, have exchanged contracts for the sale of a portfolio of 10 industrial assets for $106.75 million. Settlement is to occur this month.
The portfolio of ten industrial assets consists of four assets from Abacus Property Group’s balance sheet and six assets from ADIF II’s balance sheet. Abacus Property Group’s assets will deliver aggregate sales proceeds of approximately $43.65 million, circa 9.4% above the aggregate 31 December 2013 book value.
The properties sold are:
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4-8 Sylvania Way, Lisarow NSW
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10&12 Pike Street, Rydalmere NSW
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1 Orielton Road, Smeaton Grange NSW
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36-52 National Boulevard, Campbellfield VIC
Managing Director, Dr Frank Wolf, said “we are very pleased to provide this large portfolio to the market at this point in the cycle and achieve very positive sales above the aggregate book value.”
10 June 2014
Ellis Varejes Company Secretary
Neil Summerfield Head of Investor Relations
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