News and Announcements
Folkestone Group (ASX:FLK) – Update
- Published January 29, 2013 12:25PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
2012 saw a stellar year for listed property groups. According to Ken Howard of RBS Morgans, “Property trusts performed very strongly in 2012, with the A-REITs sector outperforming the ASX 200 index by around 9 per cent for the year ended.” With a reduction in interest rates, the sector has seen superior yields on offer from investments that offer a stable income stream.
Real estate investment, development and funds management company Folkestone Limited (ASX:FLK) is focused on providing real estate wealth solutions. Folkestone’s on balance sheet activities include value-add and opportunistic real estate investments while its funds management platform offers real estate funds to private clients, high net worth individuals and select institutional investors across core, value-add and opportunistic real estate investments.
Over the course of calendar year 2012, Folkestone saw an increase in price from $0.08 at the beginning of the year, to close at $0.12 to end the year, a return of 50 percent. During this period, the company sold its 20 per cent interest in Donnybrook Road, Mickleham at book value, unlocking $10.7 million of capital. The final unit of its Clifton Hill residential development was also sold in September 2012, with $8.1 million in capital repatriated during the year. The Ranges, Karratha, a project which provides much needed accommodation for business travellers to Karratha (pivotal to Australia’s long‐term LNG projects) was opened in December.
2012 also saw a major acquisition, when the Company acquired 100 per cent of the Austock property funds management business on deferred terms. The acquisition provided $550 million in funds under management in the real estate related social infrastructure sector, with two funds listed on the ASX – the Australian Education Trust (ASX:AEU) and The Australian Social Infrastructure Fund (ASX:AZF). As well as this, Folkestone launched their first unlisted income syndicate (the Folkestone Real Estate Income Fund at Sydney Olympic Park) which acquired a new commercial building with 100% of the office space leased to Thales Australia for 10 years.
Folkestone has started 2013 in extremely positive fashion and at time of writing, was trading at $0.15 or a return of 25 percent in January.
Company Updates
Built on discipline, not complexity: inside an ASX equities income strategy
Haydn Froggatt and Zac Brabin have decades of derivatives experience between them and access to almost any strategy in the market. They use two of the simplest structures available, and wrote 202 positions with them last year. Published by Fairway Capital Management. Based on an interview with co-founders Haydn Froggatt and Zac Brabin. Two traders, […]
BlackRock has named the next Economy. What this latest paper means for Private Market Investors.
BlackRock has put a name on something the smart money has been circling for two years. Its digital assets research team calls it the machine-native economy. The thesis fits in one line. AI is machine-native intelligence. Digital assets are machine-native money. Both are built on the same architecture, and they are converging into a single […]
Where’s the beef? Blackstone just answered the AI question.
In 1984, a fast food ad asked a question that became a catchphrase. Where’s the beef? Jon Gray, President of Blackstone, used that line this month in front of global LPs. It is the question every capital allocator is asking about AI. Trillions of dollars are going into chips, data centres and power. That is […]
Backed By Leading Investment Groups and Family Offices
