GOODMAN Group has made a non-aggressive investment in the ING Industrial Fund.
Goodman has bought a 9.4% in IIF at $2.50 per unit, spending a total of $261 million.
The acquisition was debt funded and the net impact on the Goodman P&L and gearing is not material.
IIF’s management said Goodman’s intentions are “non-aggressive”.
Meanwhile, Goodman said its investment in IIF is a strategic holding.
Australian Property Journal
