This article is from the Australian Property Journal archive
GATEWAY Lifestyle Group has divested two non-core assets for $18.4 million.
The group sold the Gateway Lifestyle Bass Hill for $10.4 million and the Gateway Lifestyle Rainbow Waters property for $8 million.
“We remain focused on growing the portfolio of long-term occupied sites,” CEO Trent Ottawa said.
“The divestment of non-core assets is a key part of our strategy, as we look to improve the quality of assets in the group’s portfolio and ongoing investment in higher returning communities driven by development potential and operating margins.” Ottawa said.
The sales are not expected to have an impact on the group’s FY18 market guidance.
Australian Property Journal
