Record Realty to offload $2.1b in assets

Directors of Record Funds Management Limited today announced targeted three year asset realisation program worth approximately $2.1 billion.

In a statement, Allco company secretary Tom Lennox said selected assets would be targeted.

The immediate goal is to reduce gearing levels.

It has immediately put forward that assets in the US and Germany would go.

The ASX Building in Sydney’s Bridge Street, a Centrelink at Canberra, Melbourne’s 1 Spring St and at Brisbane, 126 Margaret St, have also been mooted.

Ian Schilling, RRT fund manager said the plan “is in the best interests of unitholders in light of the current market conditions and follows a comprehensive review of a range of potential models”.

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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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