GDI: Execution of co-living joint venture arrangements

GDI PROPERTY GROUP

• GDI has entered into a Joint Venture with Tulla Group to own, operate, and syndicate co-living mining accommodations.
• Tulla Group brings experience in co-living facilities, and the partners plan to acquire/build more co-living villages using debt finance.
• Upon achieving scale and diversity, the Joint Venture partners intend to offer investment opportunities to GDI's investor base via Co-Living Accommodation Trust 1 (CAT1).

2023-04-03 09:19:00

GDI: Resignation of Managing Director

GDI PROPERTY GROUP

• GDI's CEO Steve Gillard has resigned for personal reasons.
• Stephen Burns will act as interim CEO until a permanent replacement is found.
• Burns has extensive experience in real estate and corporate transactions.

2023-03-16 08:31:00

GDI: ACQUISITION OF SOUTH HEDLAND MOTEL

GDI PROPERTY GROUP

• GDI1 has entered into a call option to acquire the South Hedland Motel (SHM) and the accompanying Lodge Motel (Lodge), for a combined purchased price of $27.0 million.
• SHM comprises approximately 107 rooms, and the Lodge 135 rooms, with the ability to add up to another 40 rooms at the SHM site.
• Over the last 15 years both motels have generated an average EBITDA of approximately $6.7 million, with FY22 reported EBITDA of $9.7 million and FY23 EBITDA tracking to be at least 25% higher again.

2023-02-06 12:34:00

GDI: Further leasing at WS2, Perth

GDI PROPERTY GROUP

1. GDI1 is pleased to announce that a second tenant has signed a Heads of Agreement2 at its new development, WS2, in Perth.
2. This second Heads of Agreement is for three floors comprising approximately 2,600sqm.
3. GDI has also executed another full floor Heads of Agreement at 197 St Georges Terrace, Perth.

2023-01-17 08:36:00