Trilogy settles on syndicate building

Sydney based property fund manager Trilogy Funds has purchased the building which is part of its Melbourne Office Syndicate Cheltenham for $24 million.

The 4900 m2 A-Grade office building is fully leased to ASX listed iSelect until 2021 with annual rent increases of 4%.

Investors in the Trilogy Melbourne Office Syndicate Cheltenham, which remains open to new investment, are expected to receive monthly distributions of 8.75% annually for the years ending 2014 and 2015, as well as any capital growth achieved upon the sale of the property.

“With an LVR on purchase of below 50% and interest is fixed for five years in line with the syndicate’s expected five year term, this syndicate ticks all the boxes in terms of investor demand for a quality property with a conservative investment structure,” Trilogy deputy chairman Rodger Bacon said.