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Garda Property Group (GDF) investor relations material
Garda Property Group Corporate presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Portfolio transactions
Remaining seven-property portfolio sold to a Charter Hall-managed fund for $300.0m; separate Heathwood and Pinkenba sales bring total gross proceeds to $350.8m.
Gross sale proceeds of $350.8m represent a 1.4% discount to the $355.8m carrying value; discount rises to 5.2% after settlement adjustments.
Charter Hall assets sold at a 5.8% fully leased yield versus a 9.2% implied capitalisation rate.
Heathwood and Pinkenba sales are unconditional; settlements due 20 Nov 2026 and 22 Jan 2027, respectively. Morningside settlement is expected in Mar 2027.
Balance sheet and financial outcomes
All Group debt of $185.3m is expected to be repaid; post-settlement cash is estimated at $176.6m, with $144.4m in loan receivables.
Pro forma NTA is $1.56 per security versus $1.65 pre-transaction, before anticipated special distributions totalling 10 cents per security.
FY27 FFO guidance rises 19% to 12.5 cents per security from 10.5 cents; distribution guidance rises 39% to 12.5 cents from 9.0 cents.
FY27 payout ratio guidance is 100%, versus 85% previously; ordinary distributions step up to 3.4 cents per quarter from the Dec 2026 quarter.
Special distributions of 9.8 cents per security are intended to assist with capital-gain outcomes; headline guidance cites 10.0 cents per security.
Strategy and capital deployment
Lending becomes the primary earnings engine, with direct property ownership and develop-to-own retained as options when risk-adjusted returns meet applicable hurdles.
Capital deployment pathways include committed lending, new lending, securities buy-backs, and direct property or development investment subject to market conditions and hurdle rates.
New lending targets residential and industrial opportunities across Southeast Queensland, from senior and mezzanine facilities to early-stage, higher-leverage positions.
Capital can move between debt and equity as prospective returns justify risk; total Group investable capital is shown at $321.0m, including lending capacity.
- FFO per security surged 54% YoY, lending rose to 49% of revenue, and profit rebounded.GDF
H2 2026 - FFO up 20.3%, gearing reduced to 17.9%, and lending expansion drives future growth.GDF
H1 2026 - Asset sales and lending growth drive lower gearing and higher FY26 distributions.GDF
H2 2025 - Industrial focus, development pipeline, and lending drive value despite deep NTA discount.GDF
H2 2024 - Net loss narrowed and FFO rose, with asset sales and upgraded FY25 guidance.GDF
H1 2025
Next Garda Property Group earnings date
Next Garda Property Group earnings date
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