Core Property has reviewed the Cromwell Creek Street Investment Trust, an unlisted property fund that invests in the commercial office property at 100 Creek Street, Brisbane QLD.
The Fund is managed by Cromwell Real Estate Partners Limited, a wholly owned entity within Cromwell Property Group (ASX: CMW) an ASX-listed property investment manager with over $4.2 billion of assets under management.
The Fund provides an opportunity to invest in a Brisbane CBD office property at a point where the office sector has been impacted by lower valuations.
- The Property is a prominent 24 level office tower located in the “Golden Triangle”, the main financial precinct of the Brisbane CBD.
- The Fund’s strategy aims to maintain and enhance the Property’s lease profile, targeting distributions of 8.00% p.a. each year over 5-years and providing the potential for upside capital growth by investing through the investment cycle.
- The Fund has an initial term of 5-years.
The Trustee is seeking to raise $101.7M through the issue of 101.7M units at $1.00 per unit. The funds will be used, with debt, to acquire the Property and establish the Fund . The Offer is open to Wholesale investors only.
Core Property has rated the Fund as RECOMMENDED.