Rural Funds Management Limited (RFM), as responsible entity and manager for the Rural Funds Group (RFF), has entered into a contract to acquire Comanche, a 7,600 hectare cattle property located in central Queensland.
The purchase price of $15.7m will be debt funded. RFF’s bank facility provides access to $50m in funding above the current facility limit of $275m. Settlement is expected in July 2018.
Comanche is suited to both breeding and backgrounding cattle. Importantly, the property offers opportunities for productivity enhancements similar to those proven on Rewan – a central Queensland cattle property acquired by RFF in July 2016.
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