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
Perpetual has seen AUM rise 6 per cent in the last quarter but the departure of a longstanding JOHCM fund manager led to outflows of $2.2 billion from his strategy.
In the latest Meet the Manager profile, Money Management speaks with Michael Skinner, founder and managing director at Blackwattle Investment Partners.
Global fixed income fund Bentham Global Opportunities has been added to several major platforms, enabling it to be accessed more easily by financial advisers.
Following yesterday’s news about First Sentier Investors closing four investment teams, a second global asset manager has announced it is closing its only dedicated Australian fund.
