LDR Capital Property Fund Sells Two Brisbane Office Assets for Nearly AU$66 Million
MT Newswires Live
Jul 07
LDR Capital Property Fund (ASX:LED) exchanged contracts to sell the Limestone Centre and Nexus Centre office properties in the Brisbane area to Stadia Capital, acting on behalf of a private investor, for a combined gross sale price of AU$65.5 million, according to an Australian bourse filing on Monday after market hours.
The properties are being sold at an average discount of 6% to their Dec. 31, 2025, book values, generating estimated net proceeds of AU$57.6 million, which will initially be used to repay debt, reducing pro forma gearing to over 30%, per the filing.
The settlement is expected to be completed in late August, subject to certain contractual conditions, the filing added.
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