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APN Industria REIT Provides Update On Industrial Warehouse Acquisition and FFO Upgrade

11 Sep 2019  |  09:39:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Industrial warehouse acquisition and FFO upgrade

APN Industria REIT noted that APN Funds Management, as Responsible Entity and Manager of Company announced the acquisition of 60 Grindle Rd, Wacol, for $18.34m, representing an initial yield of 8%. The property is occupied by Vesco Foods for a remaining term of 9.4 years, and benefits from annual reviews of 3.5% or CPI (whichever is higher), and a triple-net lease structure (excluding land tax). The property features a 9,000 sqm warehouse on 45,000 sqm of land. The FY 2020 FFO guidance has been upgraded to 3.5%.

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