This article is from the Australian Property Journal archive
APN Industria REIT (ASX: ADI) continues to benefit from the industrial property boom with the value of its portfolio increasing by $64.3 million.
The unaudited valuations were for 17 of the REIT’s 23 industrial properties, representing an 11.9% value lift.
The REIT’s average cap rate tightened by 51 basis points, with the weighted average cap rate across the portfolio now at 5.83%.
Salient movements include: 1-3 Westrac Drive, Tomango was valued at $251 million, for an increase on prior book value of $27.95 million and a capitalisation rate compression of 0.50%.
80-96 South Park Drive, Dandenong South was valued at $35.5 million, for an increase on prior book value of $9.6 million and a capitalisation rate compression of -1.25%.
16-18 Quarry Road, Stapylton was valued at $65.5 million, for an increase on prior book value of $6.55 million and a capitalisation rate compression of -0.25%.
13 Rick Way & 10 Jersey Drive, Epping were valued at $22.75 million, for an increase on prior book value of $4.23 million and a capitalisation rate compression of -1.00%.
34 Australis Drive, Derrimut were valued at $35.5 million, for an increase on prior book value of $2.8 million and a capitalisation rate compression of -0.50%.
“These outcomes reflect the quality of our portfolio, which is now valued at over $1.05 billion, and remains well positioned to benefit from a strengthening market, in addition to various asset management initiatives that will further improve income visibility and drive value.”
These results also reflect approximately 30 cents of NTA per security up from 31 December BTA of 10.3% to $3.18 per security.