Investec Australia Property Fund
Investec Australia is seeking to list its Investec Australia Property Fund on the Australian Stock Exchange to raise approximately $100 million of new equity capital.
The broker firm offer opened on 13 May 2019 (closing on the 20 May 2019) and the institutional and bookbuild will be conducted on 20 to the 21 May 2019. The fund is due to list on the ASX on the 28 May 2019.
The fund has been listed on Johannesburg Stock Exchange since 2013 and invests in real estate assets in Australia and New Zealand. It currently invests in 28 properties with a combined value of just over $1 billion.
The fund invests in office, industrial or retail properties with the following characteristics:
- Medium to long-term lease profiles
- Situated in well-located commercial precincts
- Limited or no short-term capex requirements
- Contracted rental growth
- Sustainable income supported by strong tenant covenants