Core Property has reviewed the Growthpoint Canberra Office Trust, an unlisted property fund that will invest in a commercial office property in Canberra, ACT.
The Fund is managed by the funds management operations of Growthpoint Properties Australia (ASX: GOZ), an ASX-listed fund manager with $6.0 billion of assets under management.
- The Fund invests in 2 Constitution Avenue, Civic ACT, a commercial office building that is 95.6% occupied with 88% of income sourced from government backed tenancies.
- The Manager is targeting average distributions of 9.0% p.a. over 5-years.
- The Fund is seeking to raise $54.05M through the issue of 54.05M units at an issue price of $1.00 per unit to support the acquisition of the Property. The Offer is available to Wholesale investors with a minimum investment of $100,000. The Offer has a closing date of 18 October 2024.
Core Property has rated the Fund as RECOMMENDED.