Growthpoint Properties Australia (AU:GOZ) has released an update.
Growthpoint Properties Australia has raised its FY24 funds from operations guidance to 23.2-23.6 cents per security due to better-than-expected office leasing and financial management, while maintaining a stable portfolio occupancy of 95% and a weighted average lease expiry of 5.7 years. The company has also successfully extended $320 million in bank debt facilities, representing 15% of total facilities, under favorable terms to enhance its capital management strategy. Growthpoint’s industrial and office portfolios show promising tenant inquiries and lease renewals, positioning the company for sustained growth in the real estate market.
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