PFI cautious about new acquisitions as revaluations boost 1H profit

Mon, 19 Aug 2019

By Paul McBeth Aug. 19 (BusinessDesk) - Property For Industry is an interested, if cautious, buyer of industrial property in a market where rising valuations helped lift the firm's first-half profit by 57 percent. The industrial property investor reported a profit of $46.4 million in the six months ended June 30, up from $29.6 million a year earlier. That included a $23.4 million tailwind from revaluations on its $1.37 billion property portfolio, up from a $7.9 million gain the year earlier. PFI has 94 properties, of which 84 percent...

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