Announcement
GENERAL: ARG: Unconditional sale of Albany Lifestyle Centre
08:30am
ARG
24/05/2019 08:30
GENERAL
NOT PRICE SENSITIVE
REL: 0830 HRS Argosy Property Limited
GENERAL: ARG: Unconditional sale of Albany Lifestyle Centre
Argosy Property Limited (Argosy) today announced the sale of Albany Lifestyle
Centre, Albany in Auckland. The property was classified as non Core and has
been sold for $89.0 million, a 2% premium to its current book value.
Settlement is expected to occur on or around 27 March 2020.
Argosy Chief Executive Officer Peter Mence said "The sale allows Argosy to
take advantage of attractive market conditions at present. The sale proceeds
will initially be applied to reducing bank debt and applied to its Value Add
development pipeline including green developments."
- END -
End CA:00334960 For:ARG Type:GENERAL Time:2019-05-24 08:30:07
Click here
to view related attachments.