RAM Essential Services Property Fund to Sell Five Retail Assets; Shares Up 4%

MT Newswires Live

Jul 23

RAM Essential Services Property Fund (ASX:REP) agreed to sell five of its retail assets to an institutional investor fund, with the company retaining a 10% interest in that fund, according to a Thursday filing with the Australian bourse.

The assets are Coomera Square, Springfield Fair, Coles Rutherford, Keppel Bay Plaza, and Mowbray Marketplace, the filing said.

The sale of the assets is subject to approval from the Foreign Investment Review Board and receipt of a credit-approved financing term sheet, with completion anticipated in the second quarter of fiscal year 2027, per the filing.

Shares rose 4% in morning trade Thursday.

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