GDI Property Group ( (AU:GDI) ) just unveiled an update.
GDI Property Group has announced the sale of 6 Sunray Drive, Innaloo, Perth, for $163.75 million. The property, owned by GDI No. 43 Property Trust, includes Perth’s only large format IKEA showroom. The sale is part of GDI’s asset management strategy, aimed at removing impediments to long-term tenure and releasing capital to investors. The sale is contingent on certain regulatory approvals and environmental reports, expected by June 2025, and is projected to deliver a 9.0% annual internal rate of return for the Trust.
More about GDI Property Group
GDI Property Group is a company involved in property investment and management, focusing on acquiring and managing real estate assets. It operates through entities such as GDI Property Group Limited and GDI Property Trust, and engages in strategic asset management to enhance property value and deliver returns to investors.
YTD Price Performance: 7.76%
Average Trading Volume: 489,199
Technical Sentiment Signal: Sell
Current Market Cap: A$335.9M
See more data about GDI stock on TipRanks’ Stock Analysis page.