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APN National Storage Property Trust |
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Nature of Investment
APN National Storage Property Trust holds 37 storage properties valued at over $270 million. The properties are geographically diversified, with 41% in VIC, 27% in QLD, 15% in SA, 7% in WA and 10% in NSW. National Storage Operations Pty Ltd operates storage businesses on each of the properties under long term leases (typically 15 years with fixed 3% increases).
Key Property Details
| Date Purchased: |
November 2003 (83.3%)
August 2004 (remaining 17.7%) |
| Total Units Held: |
7,497,600 |
| Percentage interest held: |
8.1% |
| Purchase Price: |
$7,497,600 |
| Valuation (as at 30 June 2011): |
$6,747,840 |
| Structure of Ownership: |
The APN National Storage Property Trust |
| Investment Structure: |
Registered managed investment scheme |
| Manager of the Trust: |
APN Funds Management Limited |
| Distributions: |
Quarterly |
Loan to Value Ratio
(as at 31 December 2010) |
58.5% (based on a going concern valuation of $293.29m) |
| WALE (as at 31 December 2010): |
8.93 Years |
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