Sharechat Logo

ING Property sells three properties for $10.4 million

Friday 14th August 2009

Text too small?

ING Property Trust sold three properties for a total $10.4 million, bringing sales of non-core assets since March to $48.9 million as it repays debt.

The trust sold its Maui St, Hamilton site and two properties in East Tamaki, Auckland, it said in a statement. Sales since March have averaged 103% of their March valuations, it said. 

“The continued sale of property at book values is a strong market signal that provides improved confidence for the future valuations of the Trust’s portfolio,” said Peter Mence, general manager of the trust’s management company. 

 

NOTE: please be advised to read full articles from Business Desk Website, you will have to pay a subscription fee on their website.

Businesswire.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

ING Property replaces difficult retail site
ING Property Trust announces re-appointment of independent director
ING Property sees challenging year ahead
ING trusts getting name change
ING Property says $96.8m depreciation hit won't hurt pay-out
ING Property Trust loss narrows, breaches covenant on Manawatu JV
ING Medical takes swipe at proposed tax tweaks
ING Property posts 1st half loss of $5.6 mln as property market remains strained
ING Property Trust planned asset sales progressing
ING investigation won't be finished before settlement: ComCom