The transaction involved purchasing 3 freehold industrial properties in a line. The 3 properties are leased to the same multi-national tenant with an initial yield of 6% net. The long standing tenant is paying below market rent (currently circa 37%) and the rental market is projected to grow by a minimum of 10% per annum over the next 2-3 years. The projected rental yield at next market review (2027) is 10.1% net.