Folkestone Generates a Total Return of 30.3% & Raises Over $51.1m for its Funds

Folkestone (ASX:FLK) is an ASX listed real estate funds manager and developer providing real estate wealth solutions. Folkestone’s funds management platform, with $1.2 billion under management, offers listed and unlisted real estate funds to private clients and select institutional investors, while its on balance sheet activities focus on value‐add and opportunistic (development) real estate investments. www.folkestone.com.au

FY17 key highlights include:

• FLK generated a total return of 30.3%% outperforming the S&P/ASX300 Index which returned 13.8%;
• Launched our first seniors living fund, which acquired the Watermark Retirement Living Community at Castle Cove on Sydney’s lower North Shore. The Fund closed significantly oversubscribed raising $25.7m;
• Launched the Folkestone Wollert Development Fund, which is undertaking in JV with ID_Land, a 560 lot land subdivision in Melbourne’s northern corridor. The Fund closed significantly oversubscribed raising $25.4m;
• Folkestone Education Trust (FET), an ASX listed A-REIT that owns more than 400 childcare centres and is managed by Folkestone, generated a total return of 10.1% outperforming the S&P/ASX300 A-REIT Index which returned -5.6%;
• FLK announced its fourth joint venture with Wilmac Properties to expand its exposure to enterprise park developments. FLK and Wilmac will develop a further 2.2 hectares of FLK’s land at Altona North into 76 office/warehouse mews with an end value of circa $28m;
• FLK announced it entered into a partnership agreement with Watermark Retirement Living and the Chatswood Golf Club to develop a seniors living community integrated with a new clubhouse; and
• The Folkestone Maxim A-REIT Securities Fund was a finalist in the Lonsec/Money Management awards for Best Property and Infrastructure Fund and also for the best Emerging Manager.

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