Finbar Group (ASX:FRI) acquired a development site in South Perth, Western Australia, for AU$9.2 million, according to a Thursday filing with the Australian bourse.
The acquisition is awaiting due diligence, with settlement expected in November if successful, the filing said.
The project is set to be launched in 2026, with an anticipated end value of about AU$165 million, according to the filing.
Shares rose nearly 1% in afternoon trade on Thursday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.