Centro derived from Ponzi scheme: analyst

CITIGROUP’s research arm has slapped Centro, labelling the group’s accounting practices “dubious” and that its operating structure was derived from a “Ponzi scheme”.

Leighton & Lend Lease stalk their preys

LEND Lease is slowly increasing its stake in Babcock & Brown Communities whilst Leighton Holdings continues to reinforce its interest in Devine Limited.

Lenders give Challenger more time

LENDERS have given Challenger Diversified Property Group an extension on a $100 million (Tranche 1) of its $500 million multi-currency facility.

Macquarie CountryWide rids of covenants

MACQUARIE CountryWide Trust has received formal credit approval from its Australian-based lender to eliminate the gearing and interest cover ratio covenants for the trust’s multi currency debt...

ALE issues shares to fund Boundary buy

ALE Property Group will partly fund the recently announced Boundary Hotel, Melbourne acquisition by issuing new stapled securities under the Distribution Reinvestment Plan.

Courageous Dutch takes on Gold Fields House

VALAD Property Group has sold 40% of Gold Fields House to a newly created fund and at the same time has formed a partnership with Dutch pension fund, Stichting Pensioenfonds ABP.

More non core sales for ING industrial

ING Industrial Fund has entered into an agreement to sell another non core property, on a discount to valuation.

Challenger buys from itself

THE Challenger Diversified Property Group has grabbed the remaining stake in two properties from its wholly owned trusts.