listed property trust

In a joint venture with Telstra Super, Charter Hall Retail REIT (ASX:CQR) has purchased eight shopping centres worth $266 million from Woolworths (ASX:WOW). The buy was in line with Charter Hall Retail's strategy to expand asset exposure to Australia.

Real Estate Property group, Westfield (ASX:WDC) is starting a new listed property trust as a new separate entity called the Westfield Retail Trust. The company will e restructuring its business and there will be a pro-rata distribution of units for the new trust to Westfield's shareholders to the value of $7.3 billion.