The battle for Propertylink, Centuria triples 2 October 2017 on Spring St property

Listed A-REITs

  • Propertylink Group (ASX: PLG) announced that its Board has rejected a proposed takeover offer from Centuria (ASX: CNI, CIP, CMA) largely on the basis that it undervalues PLG. Centuria subsequently responded with assertions that the PLG Board “refused to meet and discuss a potential proposal”. The Centuria offer was valued at $0.95 per security, consisting of $0.055 cash plus units in CNI and CIP.

  • PLG also announced the acquisition of an industrial asset at 12a Rodborough Rd, Frenchs Forest NSW for $20.7M on a 7.69% capitalisation rate. The property will sit in the Propertylink Australian Industrial Partnership II fund which PLG has a 17.5% co-investment holding.

  • Asia Pacific Data Centres (ASX: AJD) has received an updated takeover offer by 360 Capital Group (ASX: TGP) at $1.95 per unit. The offer is an all cash offer, with payment made within seven business days. TGP announced that it also intends to acquire additional units on market at any price up to $1.95 per unit. The all-cash offer represents a superior offer to current tenant NEXTDC (ASX: NXT) whose offer of $1.87 per unit lapsed on 15 September. NXT own 29.2% of AJD and TGP own 19.98%.

  • Charter Hall Retail REIT (ASX: CQR), announced the sale of their Moranbah Fair Shopping Centre, Moranbah, QLD for $25M. Over the past 12 months CQR has divested $157M of as it seeks to reposition its portfolio.