360 Capital Office Fund
The 360 Capital Office Fund had a result without complexity, which was in line with expectations. The portfolio metrics remain sound - average lease expiry is 4.7 years with 99.2% occupancy. NTA per security increased to $2.25 - up from $2.14 at 30-Jun-15. Operationally the fund leased 24.7% of its portfolio (by area), and sold a non-core asset for $29m.
The fund is forecasting operating earnings of 18.2 to 18.7 cps for FY-17, with a H1 distribution of 8.5 cps. As with the 360 Capital Industrial Fund, the 360 Capital Office Fund delivers a strong, low risk income return for the equity portfolio.