Charter Hall Retail REIT (ASX:CQR) said Charter Hall Wholesale Management, acting as trustee for various investment trusts, further raised its stake in Hotel Property Investments (ASX:HPI) to 90.86% from 85.43%, according to a Monday filing with the Australian bourse.
The real estate investment trust is acquiring Hotel Property investment via an off-market takeover for AU$3.752 per security.
Shares of CQR rose nearly 3% in recent Monday trade.
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