Cedar Woods Properties launches first managed fund
Western Australia property developer Cedar Woods Properties has launched its first managed fund, the Cedar Woods Land Development Fund.
The wholesale fund is due to commence late next year with the development of 500 residential lots over seven years on a 47-hectare parcel of land purchased for $36 million at Wellard in Perth’s southern corridor.
Cedar Woods has acquired a 25 percent stake in the project, which will be managed by Cedar Woods Properties Management, a wholly-owned subsidiary.
The remaining 75 per cent interest in the project has been acquired by parties associated with major shareholders of Cedar Woods, and BOS International, a member of the HBOS Australia group.
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