Corporate Action: Investa’s Proposal to Purchase 50% of Property Management Platform Looks Sensible
Consistent with market movements, a revaluation of the firm's portfolio has boosted the net tangible assets, or NTA, for each unit in Investa Office Fund, or IOF, to AUD 4.79 at end April, up 7% on the AUD 4.49 as at December 2016. The higher valuation provides a bargaining tool to extract a higher takeover price from Cromwell, which in early April made a nonbinding proposal to take over IOF at AUD 4.85 per unit. Given the very significant appreciation in Australian office values over the past y...Investa Office is a real estate investment trust formed by the stapling of the units in two Australian registered schemes, Armstrong Jones Office Fund and Prime Credit Property Trust. The principal activity of Co. is to own investment grade office buildings, generating rental and other property income. These properties are either owned directly or indirectly through the ownership of interests in unlisted entities.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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