Charter Hall REIT (ASX:CLW) set to splurge $267 million on property spree

Company News

by Melissa Darmawan

Aussie REIT’s manager Charter Hall Long WALE REIT (ASX:CLW) is set to acquire three and upgrades its 2022 financial year earnings forecast.

The $2.9 billion company has informed investors that their splurge will be on three properties in Melbourne, Brisbane and Perth. They’ve also boosted their financial year 2022 earnings forecast while reaffirmed financial year (FY) 2021’s.

The property investment manager said it expected FY21 operating EPS of 29.2 cents per security, representing growth of 3.2 per cent on FY20 operating EPS.

As for their FY22, their operating EPS guidance to growth is no less than 4.5 per cent on forecast FY21 operating EPS.

Their proposed acquisitions will be funded by existing debt and is due to settle this month.

By August, the trust will have a one third tenants in common title interest in the iconic Myer Bourke Street Mall property in Melbourne CBD for $135.2 million, a 100 per cent interest in a distribution centre leased to Simon National Carriers in Carole Park, Brisbane for $83.1 million; and a 100 per cent interest in a Bunnings property in Baldivis, Perth for $49.0 million.

Shares in Charter Hall Long WALE REIT (ASX:CLW) are trading 1.68 per cent higher at $4.83.

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