Charter Hall Retail REIT (ASX:CQR), via its manager Charter Hall Wholesale Management, said that its stake in Hotel Property Investment (ASX:HPI) is now 58.7% or 115.4 million shares, according to a Monday filing with the Australian bourse.
This is an increase from 57.6% or 113.3 million shares as of Dec. 30.
The REIT is acquiring Hotel Property investment via an off-market takeover for AU$3.785 per security.
Charter Hall Retail REIT's shares were up almost 1% in recent Monday trade.
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