Arena REIT (AU:ARF) has released an update.
Arena REIT announced an ambitious expansion with the acquisition and development of ten new Early Learning Centre properties, valued at a total investment of $92 million. To finance these ventures and future investments in social infrastructure, the company has initiated a $120 million institutional placement at $3.78 per security and an additional $20 million Security Purchase Plan for existing shareholders. The company also projects a 4.9% growth in FY2025 distributions to 18.25 cents per security, indicating strong financial prospects.
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