Interesting question about Industria (IDR), tongal. Biz...

Interesting question about Industria (IDR), tongal.

Biz Spectator recently wrote:
"Both 360 Capital and Industria manager APN Property Group have emphasised that the stake has been made for investment purposes. However, combining the trusts would enlarge Mr Pitt’s operation and also help mitigate the impact of tough difficult leasing conditions that Industria faces in Brisbane."

The quote captures two routes:
(a) 360 estimates that IDR is undervalued and therefore a better investment than overpriced assets (property) in the marketplace. Perhaps eventually holding a larger stake would give 360 a position on the board which would guide APN through the rough ride it currently experiences.

(b) 360 REALLY wants TIX to be a billion dollar fund, and a full takeover of IDR would put TIX into that size group.