Relatively stable cash flows from a high-quality portfolio of industrial and office park assets Strong market position and experienced property management team High occupancy levels and a solid lease-maturity profile High gearing level, which limits financial flexibility Potential for increased exposure to property development over time Exposure to cyclical real-estate-market conditions The ratings on Goodman Australia Industrial Fund (GAIF), an unlisted Australia-based wholesale property trust, reflects our opinion of the fund's relatively stable cash flow generation derived from a high-quality portfolio of industrial and office park assets; GAIF's strong market position and experienced property management team; and the fund's high occupancy levels and solid lease-maturity profile. Partly tempering these strengths are the fund's high gearing level; potential for increased exposure
