APN Convenience Retail REIT to acquire 7-Eleven Maroochydore

APN Convenience Retail REIT (ASX: AQR) has agreed to acquire 7-Eleven Maroochydore, Queensland for $6.85 million. The property is located in Maroochydore’s major arterial road linking the town centre to the southern beaches. The acquisition is expected to settle before the end of October 2019.

Following the settlement:

  • AQR’s portfolio will comprise 69 properties valued at $360.5 million
  • AQR’s gearing will be 33.5%
  • There will be no change in the FY2020 distribution guidance of 21.8 cents per security and FFO guidance of 22.3 – 22.5 cents per security

By 11:47 AM AEST, AQR was trading at $3.39, down by 0.3% relative to the previous close.

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