Gandel Group Buys Into Charter Hall

Charter Hall Group (“CHC” or “Charter Hall”) announces a $73 million listed equity raising. Gandel Group (“Gandel”) will invest up to $37 million in CHC as part of this raising. In addition, Gandel has agreed to acquire $30 million of CHC’s existing co-investment in the Core Plus Office Fund (“CPOF”) and will also commit $15 million to the Special Situations Fund (“SSF”), CHC’s proposed new unlisted fund initiative.

The listed equity raising of $73 million comprises a placement to Gandel of $24 million and a fully underwritten 2 for 7 accelerated non-renounceable entitlement offer to raise $49 million at $0.33 per security (together the “Offer”).

CHC will raise $118 million in total, with Gandel contributing up to $82 million.

Marc Pallisco

A freelance property writer and analyst, Marc is a co-founder of realestatesource.com.au.

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