APN Convenience Retail REIT (ASX:AQR)
APN Convenience Retail REIT (“Convenience Retail”), managed by APN Funds Management Limited, is a listed Australian Real Estate Investment Trust (AREIT) which owns a portfolio of 70 convenience retail assets located in Queensland, Western Australia, New South Wales and Victoria. The portfolio, which is currently valued at $355.2 million, is leased to high-quality tenants on attractive, long-term leases.
Convenience Retail REIT provides investors with:
- An attractive and defensive distribution yield backed by long term leases to high quality tenants;
- A weighted average lease expiry (by income) of 12.1 years as at 31 December 2018;
- A portfolio diversified by geography and tenant;
- Significant growth opportunity through contracted annual rent increases in all leases and targeted acquisitions; and
- Access to the people and capabilities of APN Property Group Limited, a dedicated, specialist real estate investment manager which has managed property investments on behalf of its clients for over 20 years, including a long track record in managing service station assets.