Redefine Properties (JSE: RDF) announced today that its competitive bidding process to sell its interest in Journal’s two student properties in Australia has been concluded at A$459 million.

JSE-listed diversified Real Estate Investment Trust (REIT) Redefine Properties (JSE: RDF) has bolstered its liquidity and began a process to refine its international holdings following an agreement to sell a 19.5% stake in Australia-listed Cromwell to Singapore-based ARA Asset Management Limited.

Redefine International, the FTSE 250 UK Real Estate Investment Trust announces that it has disposed of its entire remaining shareholding in the Cromwell Property Group, held through its 100% owned subsidiary Redefine Australian Investments Limited.

Redefine Properties today reported distribution growth of 7.1% to 39 cents per share for the half year to 28 February 2015, delivering on its market guidance.

Redefine International disposes of 54.24m Cromwell Property shares held through subsidiary Redefine Australian Investments for a consideration of GBP30.66m, says group.

Redefine International is pleased to announce that the Cromwell Property Group ("Cromwell"), in which the Company currently has a 13.19% interest, has released its results for the half year ended 31 December 2013.

Redefine Properties has completed its maiden direct offshore property acquisition, obtaining a 50% share in the landmark Northpoint Tower located in North Sydney, Australia.

Redefine International plc acquires the remaining minority interests in its Newington House‚ Ciref Malthurst and Trito Kwik-Fit entities for GBP1.9m.

Redefine Properties seized the opportunity to increase its direct holding in Australian listed Cromwell Property Group this week by taking up Aus$65.6 million of Cromwell’s capital raise, which will partly fund Cromwell’s successful acquisition of a portfolio of government properties

Redefine Properties International (RIN) has sold 84.5-million securities in Cromwell Property Group to reduce its stake in the Australian company from 22.01% to 16.22%.

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