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.
AUTHOR
Oksana Patron
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