Industrials Reit eyes £125m in acquisitions to power earnings
Company will keep focusing on UK with its many opportunities and rising demand for space
UK-based Industrials Reit, which owns multilet industrial (MLI) properties providing work spaces for small- and medium-sized businesses, is targeting annual acquisitions of £125m (R2.44bn) over the next four years to enhance its earnings.
In the past four years, acquisitions have been funded by selling noncore assets, but now the group will instead use a combination of debt and issuing shares. The portfolio growth will enable the company to diversify its rental income, further stabilising cash flows, CEO Paul Arenson told Business Day...