West­lawn Trust launches eighth cap­i­tal rais­ing round

Weekend Gold Coast Bulletin - - BUSINESS -

PROP­ERTY in­vest­ment fund man­ager Clarence Prop­erty has launched its lat­est cap­i­tal rais­ing for its the un­listed West­lawn Prop­erty Trust (WPT).

The cap­i­tal rais­ing fol­lows its re­cently com­pleted sev­enth of­fer­ing – which closed over sub­scribed for $33 mil­lion.

WPT is fore­cast­ing a 7 per cent cash dis­tri­bu­tion to in­vestors (paid monthly) and an 8.6 per cent gross dis­tri­bu­tion in­clud­ing frank­ing cred­its.

Clarence Prop­erty man­ag­ing di­rec­tor Peter Fa­hey said the past two years have been one of the most ac­tive pe­ri­ods in the his­tory of WPT.

Mr Fa­hey said it has more than 1000 in­vestors and nearly $250 mil­lion of com­mer­cial prop­erty un­der man­age­ment.

“When we went to the mar­ket to raise new cap­i­tal in 2015, we were met with strong sup­port from both ex­ist­ing and new in­vestors based on our track record, with the fund hav­ing paid a dis­tri­bu­tion to in­vestors ev­ery month since its in­cep­tion,” he said.

“Last year, WPT de­liv­ered an 18.6 per cent re­turn to in­vestors and has de­liv­ered an av­er­age re­turn of 12.1 per cent per an­num over the past three years, which is a com­mend­able per­for­mance.”

Mr Fa­hey said ex­ist­ing in­vestors in the Trust are mainly based in north­ern NSW and south­east Queens­land.

“We think we will see good in­ter­est from in­vestors right around the coun­try,” he said.

“West­lawn is the kind of fund which will have ap­peal to a wide range of in­vestors who are prin­ci­pally seek­ing reg­u­lar in­come, from small self-man­aged su­per funds right through to whole­sale and so­phis­ti­cated in­vestors.”

Mr Fa­hey said the Trust’s di­ver­si­fi­ca­tion was key to its suc­cess.

WPT’s flag­ship project, the mas­ter­planned ‘Epiq’ com­mu­nity at Len­nox Head, has re­alised more than $65 mil­lion in land sales.

“We con­tinue to in­vest pre­dom­i­nantly in the north­ern NSW and south­east Queens­land re­gions, where we see strong po­ten­tial.”

Clarence Prop­erty man­ag­ing di­rec­tor Peter Fa­hey.

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