ING chasing more properties

Wednesday 25 August 2004

ING Property Trust - formerly the Paramount Property Trust - wants to buy more properties.

By The Landlord

Managing director Andy Evans told yesterday's annual meeting in Auckland that the trust was targeting "large portfolios or company acquisitions".

He said the trust, which bought the Citibank building in Auckland from Trans Tasman Properties, was also examining changes to its existing portfolio, including altering the use of some buildings, making applications for zoning changes and making additions to properties so it could add value to the buildings.

The trust had a strong balance sheet, enabling it to undertake the changes and buy more properties to expand the portfolio.

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