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Australian REITs look ready for acquisitions-CBRE

Posted on 11 June 2009

From Reuters: Australian property trusts are cashed up and ready to start a round of a consolidation in the sector by buying up distressed assets, U.S.-based property fund manager CBRE Global Real Estate Securities said on Wednesday.

Australian property trusts and companies have raised nearly A$9 billion ($7.2 billion) of equity this year to bolster balance sheets against falling asset values and to pay off debt, but some of the proceeds will be also used to chase distressed assets, according to the CBRE fund manager……..Full Article: Source


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