Aussie property fund open to NZ
Australian commercial property fund manager Charter Hall Group has offered its unlisted Direct Office Fund (DOF) to New Zealand investors for the first time.
Tuesday, September 20th 2016, 6:00AM
DOF is looking to accept a further $AUD250 million from investors in a new round of equity raising.
Head of direct property Nick Kelly said: “In response to the demand from New Zealanders to invest in Australian investment-grade commercial property we have, for the first time, formally entered this investment market by registering our current direct unlisted property funds, in New Zealand.
“New Zealand residents can now invest with Charter Hall in New Zealand dollars and they can also receive dividends in New Zealand dollars. With the New Zealand dollar at near parity with the Aussie – the best rate in living memory – it’s an especially attractive time for New Zealanders to invest in blue chip Australian commercial property.”
Charter Hall Group is Australia’s largest specialist investment property manager with more than $AUD17.5 billion under management.
DOF achieved a total return of 20.1% per annum in the 12 months to June 30, 2016.
New Zealand investors can invest in DOF via their financial adviser or directly with Charter Hall via its website.
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