Charter Hall buying and selling, Westfield gets ready to vote

Charter Hall continues to remain active with a number of transactions announced in the past week, including the purchase of 343 Albert St, Brisbane QLD for $108M on behalf of the government of Singapore’s sovereign wealth fund GIC. The property was acquired on a 6.75% yield, and follows GIC’s acquisition of the Santos building in Brisbane for $370M in December 2017 on a 5.7% yield. Charter Hall’s listed A-REITs have also been busy offloading around $110M of properties across the Charter Hall Retail REIT (ASX: CQR) and the Charter Hall Long WALE REIT (ASX: CLW).

The takeover of Westfield Corporation (ASX: WFD) by Unibail-Rodamco SE, looks to be on target following the approval by Unibail-Rodamco SE shareholders at their Annual General Meeting in Paris. The next step will be for Westfield securityholders to vote on the scheme on 24 May 2018 followed by a second Australian Scheme Court hearing on 29 May 2018. If all approvals are met, the scheme is expected to be effective on 30 May 2018.