APN Industria REIT (ASX:ADI) secures Melbourne warehouse

Company News

by Katrina Bullock

APN Industria REIT (ASX:ADI) has acquired a Melbourne warehouse for $16 million.

The 10,000 square metre warehouse is leased to CMW Homewares for a remaining lease term of 3 years.

The purchase price reflects a 5.75 per cent capitalisation rate and an initial yield of 5.1 per cent.

The warehouse is located in Rowville, 35 kilometres from the Port of Melbourne, and is close to the East Link and the M1 Motorway.

Settlement is expected on the 1st of December 2020.

Shares in APN Industria REIT (ASX:ADI) are trading 0.7 per cent higher at $2.89.