Martin Lechner, an independent director of First REIT’s AW9U manager, has acquired 796,900 units in the REIT at 21 cents each.
Lechner had paid a total of $167,349 when he bought the units via the market on Sept 18.
Following the acquisition, Lechner has a total of 5.80 million units – or a 0.28% stake in the REIT, which has 2.07 billion units.
Lechner was appointed as a director of the REIT in January 2018.
Units in First REIT closed flat at 21.5 cents on Sept 19.
