On March 28, 2024, Charter Hall Group and Charter Hall Retail REIT jointly announced the acquisition of a 14.8% stake in Hotel Property Investments (ASX: HPI), amounting to a $97 million investment, making them the largest shareholders in HPI. This purchase was strategically funded by Charter Hall Group from its cash reserves and Charter Hall Retail REIT from the proceeds of recent property sales.
HPI, owning 57 hotel properties mainly on Australia's eastern coast, aligns with both entities' focus on convenience net lease retail assets, enhancing their already substantial $10 billion portfolio in this sector. The acquisition, bought at a 15% discount to HPI’s net tangible assets per share, is expected to yield a 5.7% return for FY24, fitting seamlessly into Charter Hall's broader strategy of growing its presence in convenience retail assets. This move reaffirms both Charter Hall entities' financial outlooks for FY24.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
