Macquarie CountryWide Trust Sells Five Assets For $92.6 Million

Macquarie CountryWide Trust Chief Executive Officer, Mr Steven Sewell said: “The gross sales price achieved is in line with book values at 31 December 2008 and reflects a 12% increase on the original cost base of the assets. Going forward, the Trust’s key focus remains to reduce our exposure to offshore markets.”

The assets sold include two freestanding Australian supermarkets, one in Queensland and one in New South Wales, two shopping centres in Queensland as well as a single shopping centre in Virginia in the US.

The disposals bring the number of asset sales completed since June 2006 to 77 with a total value of A$1.1 billion. The deals reflect management’s ongoing commitment to deliver on the Trust’s strategy of strategically selling assets or interests in assets to reduce overall leverage, provide balance sheet capacity to meet medium term refinancing obligations and support the portfolio’s underlying asset value

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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