Melbourne-based APN Property Group yesterday flagged the launch of a $350 million petrol station fund on the Australian Securities Exchange.
The fund, likely to list early next year, will comprise about $80m worth of assets in the unlisted APN Property Plus Portfolio, as well as additional Puma-branded petrol stations the manager is assembling.
The group has won backing from wealthy individuals and institutions to buy a portfolio of 23 Puma Energy service stations in Queensland and NSW independently valued at $106.1m at a yield of about 7.3 per cent.
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