Cedar Woods Properties: Expands its portfolio by over 1200 lots

Cedar Woods Properties Expands its portfolio by over 1200 lots

• Cedar Woods Properties (CWP) increases its portfolio with the $49.5 million purchase of an 86-hectare property in Eglinton, Western Australia
• The development site will add approximately 1200 lots to Cedar Woods’ development pipeline and is projected to contribute to the company’s profitability over 11 years
• The addition of the Eglinton project takes the company’s total portfolio to approximately 10,700 lots and units
• The acquisition will be funded by the company’s existing corporate financing arrangement, which is being expanded to accommodate the acquisition
• Shares in Cedar WoodsProperties are up 1.76 per cent to $5.77 at 3:03 pm AEDT