Industria REIT upgraded its funds from operations guidance range to 19.05 Australian cents to 19.25 cents per security, up from a previous range of 18.4 cents to 18.6 cents per security.
The company also maintained its distribution guidance of 17.0 cents per security, a 3% rise over the year-ago period.
In addition, the Australian industrial-focused real estate investment trust agreed to buy a warehouse spanning 10,078 square meters of gross lettable area in the Derrimut suburb of Melbourne, Victoria, for roughly A$10.6 million, translating to an initial yield of 6.6%. The property at 1 Westpark Drive sports a 4.6-year weighted average lease expiry profile anchored by the Downer Group.
The debt-funded deal is expected to close in mid-September.