Core Property has reviewed the 333 Exhibition Street Property Fund, the latest offering by Placer Property Limited.
The Fund is a six-year unlisted office fund, targeting distributions of 6.5% p.a. in FY18 and FY19.
The property metrics are strong with the Fund owning the office component of 333 Exhibition St, Melbourne Vic, currently leased to the University of Melbourne, with a Weighted Average Lease Expiry (WALE) of 4.9 years, and fixed rental increases of 3.65% p.a.
Core Property has issued a RECOMMENDED rating for the Fund.