IEF Real Estate Entertainment Group has restructured its interests Panthers Property Unit Trust and Panthers Property Management Pty Ltd.
IEF has sold its 49.9% equity holding in Panthers Property Unit Trust and Panthers Property Management Pty Ltd for $24 million, a small premium to December 31 2011 book value of $23.5 million.
IEF’s managing director Russell Naylor said completion of Panthers restructure is seen as a positive for the fund and establishes a path to unlock capital for reinvestment in line with previously announced strategy of investing in freehold going concern hotels.
Property Review
