LDR Capital Property Fund (ASX:LED) agreed to sell its 34 Corporate Drive asset in Cannon Hill, Queensland, for AU$24.8 million, according to a Tuesday filing with the Australian bourse.
The asset is being sold to Aequitas Group at a 4.6% discount to book value, the filing said.
Settlement expected to take place on June 15, with proceeds to be used to repay debt, per the filing.
LDR Capital Property Fund shares rose 6% in morning trade on Tuesday.
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