Investment Matters

Company news: 360 Capital Industrial Fund

As detailed in previous W&D editions, the 360 Capital Industrial Fund made a takeover offer for another listed property REIT - the Australian Industrial Fund (ANI).  After a drawn out takeover process, last Friday the 360 Capital Industrial Fund (TIX) obtained more than 90% of ANI's securities.  This means that TIX can now compulsorily acquire all remaining securities and delist ANI.  The 360 Capital Group has become the manager, and TIX will comprise 38 industrial properties across Australia (up from 22, providing meaningful operating scale).  As the acquisition is settled down we expect it will translate into higher returns for both sets of investors (ANI & TIX)