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.

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