Elanor Retail Property Fund
(ASX:ERF) has purchased Moranbah Fair Shopping Centre in Queensland for $25 million.
The investment and funds management business has acquired the centre as part of its asset recycling program.
The settlement due December 2017, will benefit the business and its shareholders through improved portfolio quality.
The purchase will increase its supermarket income from 24 per cent to 31 per cent.
Shares in Elanor Retail Property Fund
(ASX:ERF) are trading flat at $1.35.
