Funds boost for centre acquisitions

Property group, Charter Hall Retail has raised $100 million to fund its acquisition of several NSW regional shopping centres.

Charter Hall on Friday said all 29 million units offered in a placement to institutional investors had been taken up.

The new units were sold for $3.45, raising $100 million.

The funds will be used for Charter Hall’s purchase of the Tamworth City Plaza in Tamworth, the Dubbo Shopping Centre in Dubbo, and the adjoining Lake Macquarie Fair and Mount Hutton shopping centres at Lake Macquarie, for a combined price of $100.7 million.

AAP

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