Asia
Arena REIT Says G8 Education to Suspend Operations at One Arena-Owned Early Learning Center; Shares Fall 3%
Arena REIT (ASX:ARF) said it received notice from G8 Education (ASX:GEM) of its plan to suspend operations at an Arena-owned early learning center in Western Australia, according to a Wednesday filing with the Australian bourse.Arena said it has received all due rent from G8 and is engaging with the company regarding its lease obligations and plans for the impacted center, per the filing.The lease for the center has a remaining term of 10.8 years and accounts for 0.2% of Arena's portfolio income, the company said.G8 Education earlier the same day disclosed plans to suspend operations for around 40 of its centers due to a network assessment.Arena REIT shares fell 3% in recent Wednesday trading, while G8 Education shed more than 24%.
ASX:ARFASX:GEM