Aust Unity strengthens DPF
Australian Unity is continuing to strengthen its Diversified Property Fund (DPF) with the purchase of a corporate office and warehouse facility in Melbourne.
The fund picked up a 20,950m2 site at Rowville, in Melbourne's south-east for $15.1 million, reflecting an initial yield of 7.6 per cent.
The purchase followed the acquisition of an A-grade office building in Carlton last November.
The DPF now hold assets in NSW, Queensland, Victoria and Western Australia, with Australian Unity forecasting the fund will provide a distribution range of eight to 8.3 per cent in the year to 30 June 2016.
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