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Charter Hall

  •   22 December 2021
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CQE ASX Release | Acquisition of Childcare Properties & FY22 Guidance Upgrade

22 December 2021 - Charter Hall Social Infrastructure REIT (ASX:CQE) today announces the acquisition of two childcare portfolios comprising 21 properties for a total purchase price of $134.3 million reflecting a passing yield of 4.6%.

The portfolio transaction acquisitions will be funded from CQE’s existing debt facilities. In December 2021, CQE increased its debt facilities to $700 million with the additional $100 million being provided by an existing financier. This will provide CQE with investment capacity of approximately $120 million after adjusting for these portfolio acquisitions and other contractual commitments.

CQE’s gearing will increase to approximately 30% as a result of these transactions and the recently announced $175.4 million portfolio valuation uplift.

FY22 Forecast Distribution Guidance increased to 17.2 cpu

CQE is pleased to announce that based on information currently available, continued tenant performance and barring any unforeseen events or deterioration in the COVID-19 environment, the FY22 forecast distribution guidance has been increased from 16.9 cpu to 17.2 cpu, an increase of 9.6% from FY21. CQE will continue to pay quarterly distributions and has previously announced the December quarter distribution of 4.225 cents per unit which will be paid on 21 January 2021.

Read the full press release here.

 

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