Elanor Investors to list real estate trust on ASX
Elanor Investors Group has announced it is preparing for an initial public offering (IPO) and ASX listing of its multi-asset commercial real estate investment trust Elanor Commercial Property Fund (ECPF).
The fund would own six investment grade commercial properties located in western Australian, Queensland and South Australia, with a total value of approximately $306 million.
As part of the IPO, the fund would acquire 200 Adelaide Street in Brisbane and the remaining 49% interest in another property located in Perth’s workzone and would work towards acquiring further investment grade office assets over time, it said.
The responsible entity (RE) of the fund would be Elanor Funds Management Limited (EFML) which is expected to lodge a product disclosure statement with the Australian Securities and Investments Commission for an offer in the fund in early November, 2019.
Existing investors in ECPF would be given the opportunity to participate in the IPO.
Recommended for you
Self-reporting issues to ASIC could lead to a reduced charge for a fund manager but it may not exempt them from enforcement action altogether, according to ASIC chair Joe Longo.
AllianceBernstein has announced its chief investment officer and Australian equity manager Roy Maslen is to step down from the firm at the end of the year.
Pinnacle Investment Management has announced it plans to launch a new affiliate from a global equities team departing Royal London Asset Management.
Asset manager Nuveen is seeing opportunity in municipal bonds which are at their highest yields in over a decade.
