This article is from the Australian Property Journal archive
ASX-listed Elanor Commercial Property Fund (ECF)’s $38.5 million sale of the Nexus Centre in Brisbane has fallen over, after purchaser, local property investment fund Quantuna, could not satisfy a capital raising condition.
The net sale price of about $35 million was at the June book value for the four-level. 7,262 sqm building in Upper Mount Gravatt, which is fully leased.
In a statement to the stock exchange, it said it has been “notified by Quantuna Pty Ltd that the purchaser has not satisfied the capital raise condition and is therefore not proceeding with its acquisition of the Nexus Centre property”.
ECF reaffirmed its FY24 distribution guidance of 8.5c per security.