KEY POINTS:
ING Property Trust has bought two industrial properties in Auckland for a total of $26.9 million, a day after having to ditch plans to take over listed company Calan Healthcare Properties Trust.
ING said a 5ha site located within the Albany Industrial Estate will be bought in exchange for three of the trust's smaller industrial properties and cash.
The Albany property, which has an aggregated value of more than $30 million, hosts a substantial manufacturing and warehouse complex.
The trust also bought a property in East Tamaki for $9.8 million from Fisher & Paykel Appliances in a sale and leaseback arrangement.
The Springs Rd property is adjacent to three other trust-owned properties, giving a total landholding of about 4ha.
ING shares were up a cent ot $1.27 in early afternoon trading.
- NZPA
