Both acquisitions are consistent with IAP’s strategy of acquiring good quality industrial properties
with strong tenant covenants and long lease terms. IAP believes the Brisbane industrial
market currently represents relative value, and the acquisitions complement IAP’s recent Brisbane
industrial acquisitions in Brendale (completed in January 2021
) and Pinkenba (completed in March 2021
). The acquisitions will increase IAP’s exposure to industrial property
to 34% by both income and value.