Full Year 2021 APN Industria REIT Earnings Call Transcript
Thank you for standing by, and welcome to the APN Industria REIT 2021 full-year results briefing. Call participants are in a listen-only mode. There will be a presentation followed by a quick question and answer session. (Operator Instructions) I would now like to hand the conference over to Mr. Alex Abell, Fund Manager. Please go ahead.
Thank you, operator, and good morning, everyone. I'll speak for 10 minutes and cover off on selected slides before handing back to the operator for Q&A.
Starting on slide 4. I'm pleased to report a record result for financial year 2021 with FFO at $41.2 million, a 12% increase on the prior period, and 99.9% of gross rent being converted to collected cash. Book values rose 10% or $85 million over the 12 months, driven by revaluation [uplifts] as well as an asset sale.
We had a busy year of acquisitions, adding eight assets to our portfolio for $182 million at an average yield of 6.2% and an average WALE at 7.4 years. 42,100 square meters of leasing was
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