Scentre Group Acquires 50% Interest in Booragoon

  • Dec 06, 2019 AEDT
  • Team Kalkine

To expand its Westfield portfolio, Scentre Group (ASX: SCG) has acquired 50% interest in Garden City Booragoon, Perth for $570 million, including long term property management, brand and development rights.

  • Earlier, Booragoon was 100% fully owned by AMP Capital Diversified Property Fund, who will now become Scentre’s 50% JV partner;
  • The company reaffirms its forecast funds from operation growth per security of 0.7% for full year FY19 and distribution of 22.60 cents per security.

At AEST 1:08PM, the stock was trading at $3.880 per share up by 0.779% from its previous close.


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