A small ASX-listed property trust, Garda Diversified Property Fund, has sold its entire portfolio of seven Brisbane warehouses and logistics sites for $300 million to focus on real estate lending, in a dramatic shift it says was ultimately decided by high interest rates.
While Garda already devotes a portion of its business to property lending, the trust said it now makes more sense to direct most of its investment effort into property debt opportunities, rather than as a landlord holding real estate equity .
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