Charter Hall launches fourth direct industrial fund
Integrated property group, Charter Hall Group, has launched its fourth direct industrial fund.
The company announced the launch of the fund, the Direct Industrial Fund (DIF4), this week stating that it featured a target income yield of 6.5 per cent plus capital growth.
It said the fund would invest in a portfolio of high quality industrial property that is 99.8 per cent occupied and has a long weighted average lease expiry (WALE) of more than 15 years.
The announcement said the initial portfolio comprises exposure to a portfolio of 27 industrial logistic assets geographically dispersed throughout Australia with the total gross assets of DIF4 being an initial $84 million.
It said this was expected to grow in future years to over $400 million as additional equity is raised and deployed.
Charter Hall said DIF4 would be conservatively geared with a target range of 30-45 per cent which provides yield and growth enhancement to an initial 15-year WALE portfolio.
Commenting on the launch, Charter Hall head of direct property, Nick Kelly said the fund built on the successful history of the firm's Direct Industrial Funds series.
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