This article is from the Australian Property Journal archive
The MAB Diversified Property Trust has realised a $7.4 million gain from the revaluation of six properties.
MDPT is an unlisted Australian unit trust that owns nine retail, office and industrial properties throughout Australia and two retail properties in New Zealand.
The 13.36% valuation increase has result in the properties been re-valued at $62.8 million. MDPT has gross assets of $150 million.
Since its 2004 valuations, MAB FM has succeeded in securing lease renewals with existing tenants and signing new leases for properties in the MDPT portfolio.
MAB FM has also successfully leased vacant space and secured lease renewals at Rising Sun Shopping Centre in Townsville, Mornington Village Shopping Centre and Cowra Plaza Shopping Centre.
MAB FM’s general manager Nick Gray said the increase highlights MAB FM’s ability to firstly identify investment grade properties through rigorous selection criteria and then apply ongoing asset management to enhance their income potential.
“Our team understands the principal drivers of profitable property trusts. The properties in the MDPT portfolio are quality assets in a robust market and reflect our strategic approach to property and funds management,” he added.
By Nelson Yap
