ING Office Fund to sell US property for $110.6m

ING Office Fund to sell US property for $110.6m

Real estate investment trust ING Office Fund (ASX:IOF) has completed due diligence on the sale of a US office property.

The company said it had entered into a sale agreement with Northrop Grumman Corporation, which plans to use the Virginia property as its new corporate office.

The property is owned in a 50/50 JV, ING said, and the sale price for 100% of the property is US$101.3 million ($110.6 million).

ING Office Fund CEO Tino Tanfara said the sale was in line with the company's “strategy to conduct a phased withdrawal from our offshore portfolio in order to... focus on Australian core CBD office markets.”

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags business dealsING Office FundASX:IOF

More about ING AustraliaNorthrop Grumman

Show Comments