ING Industrial Fund said on Wednesday its distributable income rose by 35.2% to EUR 109.3 mln in the year ended 30 June, resulting in an 11.5% increase in distributable income per unit. Distributable income per unit before gains on sales of investments increased 11.3%.
ING Industrial Fund said on Wednesday its distributable income rose by 35.2% to EUR 109.3 mln in the year ended 30 June, resulting in an 11.5% increase in distributable income per unit. Distributable income per unit before gains on sales of investments increased 11.3%.
'An active and successful period for ING Industrial Fund has resulted in another year of strong growth in earnings and distributions for unitholders. Whilst a significant contribution to this result was derived from the Fund's investment in the Summit REIT portfolio, a landmark transaction concluded in conjunction with ING Real Estate, excellent results were achieved across all areas of the business. Further accretive off-market acquisitions were sourced in Europe, whilst the development business in Australia continued to add value through the successful execution of various projects from the Fund's substantial pipeline,' ING Industrial Fund ceo Paul Toussaint said.
ING Industrial Fund is a publicly listed property trust in Australia investing in prime industrial properties and business parks in key global markets. The fund currently owns a highly diversified industrial property portfolio located throughout Australia, Canada and Western Europe. With total assets in excess of EUR 3.4 bn, the ING Industrial Fund is the largest industrial property trust listed in Australia.