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A number of A-REITs provided updates to the market at their Annual General Meetings over the past week, including Industria REIT (ASX: IDR), Stockland Group (ASX: SGP), Propertylink (ASX: PLG), 360 Capital Group (ASX: TGP) and Dexus (ASX: DXS). Trading updates and investor presentations were also provided from Vicinity Centres (ASX: VCX), Centuria Capital (ASX: CNI), Centuria Metropolitan REIT (ASX: CMA), Centuria Industrial REIT (ASX: CIP), Mirvac (ASX: MGR), Growthpoint (ASX: GOZ).
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Overall comments were that the A-REITs were generally on track at the end to meet their guidance, with GOZ announcing a slight increase to their distribution of 22.2 cents per unit (from 22.0 cpu). CNI, CMA and CIP reported improved metrics, including stronger occupancy levels, lower gearing and higher WALEs.
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GDI Property Group (ASX: GDI) announced that it has settled the acquisition of Westralia Square, 141 St Georges Terrace, Perth WA for $216.25M.