GPT Metro Office Fund
(ASX:GMF) has announced an increase of 6.4 per cent in the value of its property portfolio.
The increase, of $26.4 million, is the result of a combination of income growth and tightening in capitalisation rates.
GMF undertook the revaluation of the portfolio after the receipt of a non-binding proposal to acquire all of the units in the Fund.
The company says gearing is expected to reduce to approximately 26.6 per cent from 28.3 per cent as at 31st December 2015.
GPT Metro Office Fund reported a net profit of $18.33 million at 31 December 2015.
