Charter Hall confirms 48 new Goodstart leases, increases valuations and declares special dividend


the Charter Hall Social Infrastructure REIT posted a fund update confirming that it has accepted new 20-year leases on 48 properties currently leased to Early learning Goodstart, its biggest tenant.

In the past 12 months, Charter Hall has accepted over 100 new leases for Goodstart properties, after confirming that 58 were signed in its HY2020 results ad in February 2021.

Goodstart is the largest tenant of the Charter Hall Social Infrastructure Fund, generating approximately 45 percent of all annual rents for the REIT.

In addition, the REIT has confirmed that it will pay a special dividend of 4.0 cents per unit, in addition to the distribution of 4.1 centers per unit scheduled for the June 2021 quarter.

A significant increase in portfolio valuations in 211 centers, around 61% of the portfolio, which were independently valued, resulted in a 12.3% increase in their book value, which was the main driver of dividend stocks.

The fleeting performance of these properties strengthened 56 basis points to 5.7%.

The unaudited impact of valuation increases will result in an increase in pro forma net tangible assets (NTA) to $ 3.27, up 8.1% from the period of December 31, 2020.

The total gross asset value of the daycare portfolio increased to $ 1.17 billion, an increase of 7.5% from December 31, 2020 and compared to last year, the increase to constant scope of the portfolio valuation was 10.8%.

CQE will release the REIT’s fiscal 2021 results on August 12, 2021.

To read the ad, see here.

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