360 Capital Group Limited (ASX:TGP)
has resolved to increase its stake in 360 Capital Industrial Fund to 19.9 percent.
The Group currently owns approximately 17.5 percent of the fund and has announced intentions to purchase up to 3.8 million units on market.
The decision follows the settlement of 360 Capital Group’s Hurstville asset which has resulted in the company now possessing in excess of $30 million in cash.
However the property investment and funds management group has noted there is no guarantee that the company will purchase all 3.8 million units.