Australia's Property for Industry climbs on industrial estate buy

Property for Industry

04/10/2020 23:02

** Shares of Property for Industry Ltd  PFI.NZ  rise as much
as 1.85% to NZ$2.75, their highest since Sept. 18
    ** Property investment firm announces acquisition of an
industrial estate at Rosebank Road in Auckland  urn:newsml:reuters.com:*:nFWN2GT0IR
    ** Purchase price of NZ$65.6 mln, representing an initial
return of 5.2%
    ** Settlement of the acquisition will take place during the
fourth quarter of 2020, co says
    ** Stock had risen 10% this year, as of last close
    
    

 (Reporting by Nikhil Subba in Bengaluru)
 ((Nikhil.Subba.thomsonreuters.com@reuters.net))