Sentinel Property Group entered into a binding heads of agreement to acquire Botanicca 7 and 9 office properties from Garda Property Group for AUD 80 million.

Sentinel Property Group entered into a binding heads of agreement to acquire Botanicca 7 and 9 office properties from Garda Property Group (ASX:GDF) for AUD 80 million on October 5, 2023. The transaction is highly conditional on successful completion of due diligence, capital raising and finance. The settlement could occur in late December 2023 with net sale proceeds applied to the partial repayment of drawn variable debt facilities.

As on November 27, 2023, due diligence and capital raising have been completed. Settlement is now expected to occur by February 5, 2024. All net sale proceeds from the sale will be applied to reduce GARDA?s variable rate senior debt.