News and Announcements
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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