Benefits of investing
The key features and benefits of an investment in the Fund are:
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Passive nature
By investing in the Fund, investors can access income and potential growth returns without the hassle of finding, funding and/or managing income-producing properties, or needing to know how to best maximise a particular property’s value.
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High quality assets in targeted growth corridors
In the short to medium-term, the Fund intends to gain exposure to commercial properties through the REIT in three key USA economic hubs – Texas, Georgia and Florida – as these states are seen as prime centres for future economic growth, leading to increased business expansion and employment opportunities.
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Commercial property focus
The type of properties the Fund is seeking to acquire include small to medium-sized office suites and warehouses, business premises, retail outlets, shop-fronts, fast-food outlets, pharmacies and restaurants. The Fund will also consider residential properties that can be broadly managed as a commercial venture, such as apartment complexes and mobile home parks.
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Income returns
The Fund will derive most of its income in the form of distributions from the REIT (which in turn will be derived from rental payments from its property portfolio).
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Capital growth potential
The USA commercial property market has suffered subdued conditions from late-2007, in line with the deterioration of the broader USA economy. However, the Responsible Entity expects that any meaningful economic recovery in the USA (which the Responsible Entity believes is possible over the medium-term) should result in increased business activity, which in turn will stimulate the USA commercial property sector. As this occurs, there will be upwards pressure on rentals leading to increased competition among investors to acquire high-quality, high-yielding investments. This increased competition is expected to flow through to higher commercial property values.
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Potential exchange rate upside
In recent times, the A$ vis a vis the US$ has traded at levels that are materially higher than its long-term historical average (calculated since the adoption of a floating exchange rate in 1983). As a result, the Responsible Entity believes there is currently an opportunity to acquire select commercial properties at discounted prices.
Further, as the Fund’s underlying property assets (via the REIT) will be earning income and will be valued in US$, the Fund will provide investors with potential upside should the exchange rate return to its longer- term historical trading range.
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Expert local and international management team
The Responsible Entity has assembled a team of highly qualified professionals with experience in funds management and property investing to oversee the Fund’s management and the execution of its investment strategy.
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Simplified tax treatment
Unlike direct individual investors in the USA property market, Fund investors will not be required to file USA tax returns. Investors in the Fund will receive annual tax statements from the Fund, to assist them to meet their Australian income tax compliance obligations.