Over Fifty Group (OFG) is preparing to launch the first in a new series of unlisted commercial property funds in the belief that property yields for long-term investments are moving back into fair value.
OFG chief executive John McBain said there was excellent support for those investments from advisers wanting to gain exposure to direct property and from their existing client base.
The company has reduced its corporate debt by $4.5 million in the last six months. It has also sold one of its properties for $15.8 million and secured an eight-year lease on another property.
The company hopes to reduce its debt by a further $9 million over the next six months, McBain said.
