Realside Adelaide Office Fund
Comprises a 50% interest in a $200m portfolio of 4 commercial office buildings. This is a high quality, diversified portfolio of A grade office buildings in Adelaide, purchased off market on a relatively high yield with a long, secure and diversified tenancy profile.
For the Information Memorandum Click Here
The Fund Metrics are summarised as follows:
- $50m equity raise
- 8.4% forecast year 1 cash return to investors, paid quarterly
- Target IRR 11.5% (5 years)
- NTA per unit $0.965
- Initial investment term 5 years
- Weighted average lease expiry profile of 5.7 years by income (as at 1 April 2020)
- 45% leased to the State Government of South Australia and the Commonwealth of Australia. Other Tenants include Nine Network, Viterra, & Kellogg Brown Root
- Acquired below valuation and replacement value.
- Net initial yield (fully leased) 7.26%
- 55% LVR
- There is no stamp duty payable on commercial property transactions in South Australia
- 200 bps yield spread between Adelaide and other key markets such as Sydney and Melbourne
Realside is a leading real estate investment firm. Their Chief Investment Officer Mark Vonic founded the real estate investment management company with the objective of providing:
- Real Estate Consulting and Strategy services;
- Acquisition and Asset management services;
- Direct Real Estate investment products
These services and products are tailored to the specific needs of the wholesale investors, namely high net worth individuals, family offices and real estate investment institutions. Realside’s primary advantage is the extensive experience and network of it’s Principal, Mark Vonic. Mark has developed, over almost 20 years in the Australian Real Estate and Property Funds management industries, a reputation for sourcing investment opportunities across all sectors for real estate investment.
Through numerous property cycles, he has achieved return profiles that have consistently delivered both stable recurring cash flow and capital growth. As market move through the various stages of their cycles it is critical to be able to adapt to these changing circumstances.
Having and exposure to all real estate sub market, office, retail, industrial, leisure, and all geographical locations across Australia, provides not only diversification, but this multi-dimensional approach enables investors to stay ahead of the market when seeking out the next value proposition.
The information applies to Realside Pty Limited (ACN 612 803 175) AFSL 493146 and its related bodies ("Realside Pty Ltd").
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