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CENTURIA CAPITAL GROUP — Capital/Financing Update 2006
Sep 25, 2006
64677_rns_2006-09-25_43cc3d9b-0c8a-4209-9656-70a7c8ffbad1.pdf
Capital/Financing Update
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VIA ELECTRONIC LODGEMENT
26 September 2006
Australian Stock Exchange Company Announcements Platform
SALE OF CAR PARK - 333 EXHIBITION STREET
OFM Investment Group is pleased to announce the sale of the car park component of 333 Exhibition Street, Melbourne to the Trinity Funds Management Group for \$24 million. This equates to the value of the asset in the OFM accounts as at 30 June 2006.
333 Exhibition Street was acquired in June 2005, with the aim of creating value for OFM shareholders via repositioning the asset and undergoing a staged sell-down to take advantage of market conditions. As previously announced, OFM has already sold the office and retail components of the property with the sale of the 700 space car park component concluding the transaction.
Mr Chris Martin, Managing Director, said "This successful transaction highlights the expertise within the OFM group in realising strong capital growth from property transactions. We continue to seek opportunities to acquire assets where we believe we can add significant value".
Settlement is expected on 24 October 2006.
Colliers International acted as agents in respect of the sale.
For further enquires please contact:
Mr Chris Martin, Managing Director, OFM Investment Group Limited 61 3 9616 6500