Elanor Commercial Property Fund
Elanor Funds Management has listed its Elanor Commercial Property Fund as an Australian real estate investment trust (AREIT), ASX code ECF. The AREIT invests in commercial properties in major metropolitan areas or established commercial precincts.
The fund will also implement leasing and active asset management to grow income and value and will acquire additional investment grade commercial properties that satisfy the fund's investment criteria. It currently holds six assets in Queensland, South Australia and Western Australia.
Elanor is forecasting a FY20 distribution yield of 7.2 per cent for the AREIT. There is a management fee of 0.65 per cent of gross asset value and the manager may also be entitled to a performance fee capped at 0.35 per cent per annum.