A-REIT

A-REIT: Announces advance distribution of 1.73c for period 1 Apr to 13 May, the date prior to the private placement. In a separate announcement co has also divested 6 Pioneer Walk, a logistics hub for $32.0m to Chasen Hldgs. This is a 42.2% prem over purchase price of $22.5m in 2007. This would reduce NPI by $1.8m for FY11/12. The property is a 2-storey warehouse with a ramp-up driveway and a 4-storey ancillary office as well as a single storey workshop and a container yard with a GFA of 20.1k sqm. The REIT trades at 1.1x P/B with 12-mth trailing yield of 7.4%