IRAPT acquired seven separate properties in December 2014

The ISPT Retail Australia Property Trust (IRAPT) has increased its portfolio of neighbourhood centres to 32 including the recent acquisition of seven properties.

Three properties were acquired via the Coles Alliance (75% IRAPT : 25% Coles Group Property Development):

Coles Greenacre, NSW
Thuringowa Village, Qld
Banksia Grove Village, WA

The Coles Alliance also contracted to acquire land and fund-through the development of the future Lakelands Shopping Centre, WA.

100% interest was acquired in:

Kiama Village, NSW
Warners Bay Village, NSW
Dee Why Grand, NSW

Cameron Gregson, Fund Manager, IRAPT said “All acquisitions fit well with the fund strategy, are anchored by a strong trading Coles or Woolworths supermarkets, have a long term WALE and are located in growth markets. IRAPT will continue to seek similar profile investments in 2015.”