360 Capital Investment Management Limited as Responsible Entity for the 360 Capital Industrial Fund (‘Fund’) (ASX: ‘TIX’) advises independent valuations have been completed for 11 of the Fund’s property assets as at 31 October 2014 (representing 70% of the portfolio by value), resulting in a $17.5 million or 5.5% increase on the previous independent valuations undertaken in April 2014. The Fund’s overall weighted average capitalisation rate (WACR) has firmed 24bp since April 2014 to 8.22%.
Recent strong transactional evidence, particularly from properties exhibiting long leases, has been reflected in significant firming of cap rates. The remaining 10 properties will be independently revalued in line with the Fund’s valuation policy.
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