Home Consortium (ASX:HMC) to buy a Brisbane shopping Centre

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Home Consortium (ASX:HMC) by Daily Needs REIT has agreed to buy Marsden Park Shopping Centre for $48 million.

Marsden Park Shopping Centre is located in Queensland.

The deal locked in a cap rate of 6.75 per cent.

It has a weighted average lease expiry of 8 years.

Shares in Home Consortium (ASX:HMC) are trading 7.33 per cent lower at $3.92.
 
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Source: Finance News Network