News and Announcements
APN Completes Steller Development Fund Equity Raising
- Published September 23, 2015 5:46PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
23rd September 2015, ASX Announcement
APN Property Group Limited (ASX:APD) is pleased to advise that it has secured the required equity commitments for the launch of APN Stellar Development Fund (the Fund).
The APN Stellar Development Fund has been established to undertake six inner Melbourne medium density apartment developments on behalf of sophisticated investors.
APN is entitled to receive management fees of up to $360,00 per annum and a performance fee of up to 25% of the outperformance above a hurdle rate (15% Fund Equity Internal Rate of Return), payable on realisation of all projects.
To read the full announcement, please click here.
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