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ING Property sells three properties for $10.4 million

Friday 14th August 2009

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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.

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