Telstra Super has struck a deal with Charter Hall to buy a portfolio of Woolworths anchored shopping centres worth $266 million.
The shopping centre portfolio will be 50 per cent owned by Telstra Super and 50 per cent by the Charter Hall Retail REIT (real estate investment trust).
Charter Hall would provide all property, leasing, financial and development management services to the portfolio on behalf of the joint owners, it said.
"This latest acquisition increases our third-party mandate business, meeting the current demand for direct ownership by a key wholesale client, whilst creating greater capacity for Charter Hall Retail REIT than it may otherwise have had to diversify its high-quality portfolio of defensive retail assets with a long weighted average lease expiry profile and strong growth prospects," Charter Hall Group joint managing director David Harrison said.
