Gateway acquires two SA land lease communities for $45M – increases gearing to $280M
The land lease developer is advancing its expansion plans, purchasing two communities with 555 long-term sites. 488 are occupied with a pipeline of 67 development sites approved. In line with the acquisition, Gateway has also increased its...
The land lease developer is advancing its expansion plans, purchasing two communities with 555 long-term sites. 488 are occupied with a pipeline of 67 development sites approved.
In line with the acquisition, Gateway has also increased its syndicated debt facility limit to $280 million and extended the tenure on a $70 million tranche to February 2020.
The Group says its gearing is now expected to stay within its target range of 25-35%.
