ALE Property Group (ASX:LEP) has confirmed it delivered a 28.4 per cent return over the past 7 ½ years.
The country’s largest freehold pub owner fully allocated a $160 million commercial mortgage-backed security issue last week, and today’s Australian Financial Review reports that the company’s trust has raised $500 million over the past 18 months.
Managing Director Andrew Wilkinson says the company only looks at properties that "meet its grade credentials," and actively pursues a strategy that delivers positive results.
All of ALE’s 87 properties are rented to ALH, a company 75 per cent owned by Woolworths, yet Wilkinson denied to the Australian Financial Review that there were any Woolworths associates on the ALE board.
ALE Property Group reported a net profit of $39.8 million for the six months to December 31, 2010.
