Elanor Retail Property Fund acquired Tweed Mall from Elanor Investors Group.
October 05, 2022
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Elanor Retail Property Fund (ASX:ERF) agreed to acquire Tweed Mall from Elanor Investors Group (ASX:ENN) for AUD 87 million on June 24, 2022. Settlement of Tweed Mall is scheduled on September 29, 2022
Elanor Retail Property Fund (ASX:ERF) completed the acquisition of Tweed Mall from Elanor Investors Group (ASX:ENN) on October 6, 2022.
Elanor Retail Property Fund is an Australia-based externally managed real estate investment fund. The Fund invests in the non-discretionary retail-based neighborhood and sub-regional shopping centers. The Fund's objective is to provide investors with growing income returns, and capital growth. The Fund's investment strategy includes investment in supermarket-anchored centers that provide earnings from a convenience-based tenant mix; implement leasing, development and repositioning strategies, and other active asset management initiatives to grow the income and value of the centers; acquire an additional investment in supermarket-anchored centers, and optimize the capital structure of the Fund based on a conservative approach to gearing. The Fund's investment property portfolio consists of approximately four retail shopping centers in Australia. The Fund's investment manager is Elanor Funds Management Limited.