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US Residential Fund Investor Update November 2016

  • Published November 21, 2016 4:43PM UTC
  • Publisher Wholesale Investor
  • Categories Company Updates

21st November 2016, ASX Announcement

About the Fund

  • Yield play on the strengthening US residential rental market
  • Currently own 122 houses in Texas, Georgia, Ohio, with Patriots Pointe multifamily apartment complex in North Carolina under contract
  • Significant growth potential in yield and narrowing of current NTA discount of 49.3%
  • Listed on ASX on February 2015

Strategy

Targeting returns from the following areas:

  • Strategic shift to focus on higher returning US multifamily properties
  • Redeployment of capital into multifamily apartment complexes where single family properties value is realised
  • Enhancing operations through management restructuring including reduced directors and internalisation of the management

Corporate Overview

  • Portfolio valued at AUD 22m, with market capitalisation at AUD 8.0m

To view the full announcement, please click on the button below.

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