Property & Infrastructure Funds Unlisted Property Trusts 2021

Discussion in 'Shares & Funds' started by Nickjjt1, 12th Jan, 2021.

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  1. Redwing

    Redwing Well-Known Member

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    Saw this

    $71.2m Shopping Centre Acquisition, WA • Northgate Shopping Centre, Geraldton, WA; 4.7-year WALE1 , 96.3% occupied
    • Single-asset, unlisted wholesale property fund, 7.25%pa 2 two-year initial forecast distribution, five-year term
    • Dominant shopping centre in the major WA gateway town of Geraldton

    SYDNEY (Monday, 11 October 2021) – Centuria Capital Group subsidiary, Primewest, has secured a $71.2 million shopping centre in Geraldton, a major regional gateway town in Western Australia, for a new single-asset, unlisted closed-ended wholesale fund.

    The Northgate Geraldton Shopping Centre, located at 110 Chapman Rd, Geraldton WA, is the dominant shopping centre in the area. The retail asset is secured by anchor tenants, Coles and Kmart, which contribute 49% of gross rental income from the asset. Kmart recently commenced a new 10-year lease.

    Including the anchor tenants, discount store Red Dot, 28 specialty shops, four kiosks, a Hungry Jacks and Concierge Car Wash pad sites, the centre provides a 4.7-year Weighted Average Lease Expiry (WALE)1 and is 96.3% occupied

    . Jason Huljich, Centuria Joint CEO said, “This is a rare opportunity to secure a retail asset that’s strategically located within WA’s fourth most populated area. It benefits from strong tenant covenants with 80% of the property’s gross income derived from ASX-listed, national and multinational tenants.

    “The acquisition illustrates how Centuria’s larger balance sheet can support the team’s expansion across large format and neighbourhood retail markets by securing quality, well performing assets. It adds to the Group’s strong retail real estate portfolio, totalling more than $2.6billion3 .

    ” The Northgate Geraldton Trust (NGT) will have an initial five-year term and be open to wholesale investors from 13 October 2021, providing a forecast 7.25%pa2 distribution within the first two years. NGT has a target equity raise of $41.8million.

    The City of Geraldton is approximately 400km north of Perth’
     
  2. Player

    Player Well-Known Member

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  3. The Y-man

    The Y-man Moderator Staff Member

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    ...or covid....

    The Y-man
     
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  4. Big A

    Big A Well-Known Member

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  5. MsNewbieInvestor

    MsNewbieInvestor Well-Known Member

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    Quite a nice little jump in unit price! :)
     
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  6. Big A

    Big A Well-Known Member

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    I expect a nice little increase in unit price at each re valuation over the next year or two till prices peak.
     
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  7. DanW

    DanW Well-Known Member

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  8. The Y-man

    The Y-man Moderator Staff Member

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    I see office space as one of the high risk (and possibly high return of-course if it does work) plays at the moment.

    The Y-man
     
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  9. Big A

    Big A Well-Known Member

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    Had a quick look. Not something I would touch. Personally moving forward I am staying away from the smaller niche players, especially ones with open ended trusts. Not confident that future assets added are in the best interest of investors. Looks like they also have a vast menu of fees that they collect.
     
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  10. Babesoft

    Babesoft Well-Known Member

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    COF just fell under $2.2, good time to buy or more pain to come? NTA as of 30 Jun was $2.48
     
  11. The Y-man

    The Y-man Moderator Staff Member

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    IMHO as per my post #248 above.

    The Y-man
     
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  12. Big A

    Big A Well-Known Member

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    Good time to buy I think. Unless there has been some bad news about this particular fund, I feel like the whole end of the office story is overdone. Things don’t change that easily. It’s only been a few weeks since lockdown has ended in Sydney and things feel pretty much like back to normal. Give it another year or so and this kuffufle will be long forgotten.
    Sure we could have another outbreak of a mutant strain that ends humanity.

    if you plan on buying and holding long term than I think it’s a good buy.
     
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  13. DanW

    DanW Well-Known Member

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    Centuria just re-opened their healthcare property trust, taking new investments to buy 2 new buildings.
    Doesn't seem to be much change in unit price since the last time it opened a couple months ago.
     
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  14. Big A

    Big A Well-Known Member

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    Still as un exciting as the last time it opened.
     
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  15. Yann

    Yann Well-Known Member

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    Anybody invested or had any involvement with funds (unlisted or listed) offered by Elanor? Just wondering why the yield is so high for the office fund, given its invested in what look like almost prime assets in capital cities.
     
  16. DanW

    DanW Well-Known Member

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    I have ERF and ECF, smaller allocation though because I don't know as much about them. I passed on one of their unlisted offers, but the listed were bought based on pricing and yield. Being liquid I can trade these for shorter-medium term.

    The reason I'm not that keen on them for long term is their fees are higher than the usual. Since I'm considering taking profit eventually, I haven't been super detailed on reading their backstory.

    So far ECF price declined by the value of the dividend, whereas ERF (retail) has managed to regain its price after dividend payment so it's ahead which is in line with the negative sentiment towards office recently (like COF) though its held up much stronger than COF.

    Interested to hear from anyone else who knows about Elanor listed funds.

    {Note from mods: this thread continued in thread Unlisted Property Trusts 2022}
     
    Last edited by a moderator: 20th Jan, 2022
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