APN Convenience Retail REIT to Acquire 13 Properties

APN Convenience Retail REIT (ASX: AQR) has reported that it has inked agreements to acquire 13 service stations and convenience retail properties in South Australia, Western Australia, Queensland & Northern Territory for a total consideration of $74.6 million.

  • 11 brand new or under construction sites, and 2 established sites.
  • Weighted average lease expiry of 13.8 years (as at 30 September 2019)
  • AQR to undertake Placement for ~$38 million, and debt facility would be refinanced, increasing the limit by $40 million.

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