APD apn property group

Ann: DXS: Acquisition of APN to further strengthen Funds business, page-4

  1. 619 Posts.
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    Good acquisition on Dexus part.

    APN was the cheapest property asset manager out of all the majors (Charter Hall, Primewest, Centuria, etc.) on key metrics such as FUM for every $ in market cap and P/FFO and very very low gearing (<10%) unlike some out there.

    Unfortunately, I didn't accumulate a large enough position quick enough for this acquisition to move the needle in my portfolio.
 
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