Arena REIT seeking to raise $50 million

Company News

by Rachael Jones

Arena REIT (ASX:ARF) is seeking to raise $50 million institutional placement at $2.67 a share.

This is to fund acquisitions and maintain balance sheet capacity for future growth opportunities.

They are hoping to buy three specialist disability accommodation properties for a total investment of $24 million.

And three Early Learning Centres for a total investment of $13 million.

They are also looking at five Early Learning Centre developments with a total anticipated project investment of $25 million.

Shares Arena REIT (ASX:ARF) were 0.36 per cent higher to $2.79 yesterday.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.