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Company News Summary

APN Industria REIT Provides Acquisitions and Equity Raising Presentation

13 May 2019  |  18:29:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Acquisitions and Equity Raising Presentation

APN Industria REIT provided acquisition and equity raising presentation stating that it has contracted to acquire a portfolio of industrial warehouses in Knoxfield and Kilsyth, two markets in Melbourne, Vic, for $38.25m, reflecting an initial yield of 6.3%. The Acquisitions are consistent with the strategy of owning properties that are well-located close to arterial roads -offer affordable accommodation for businesses and are expected to provide with growing income streams over the long term -provide opportunities to add value through asset repositioning and leasing strategies. The Company will undertake a placement to raise $30m at an issue price of $2.73 per New Security to partially fund the Acquisitions and a SPP to raise up to $5m at the same issue price as the Placement.

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