Core Property has reviewed the Fortius Queen Street Trust, the latest unlisted property fund offering by Fortius Funds Management.
The Fund provides an opportunity to invest in the office property at 307 Queen Street, Brisbane QLD, located in the "Golden Triangle" of the Brisbane CBD.
The Property sits on a prominent corner of Queen and Creek Streets in the heart of the Brisbane CBD with a diversified mix of over 60 tenants across 25 levels. The Property is well positioned to capture smaller tenancies in a core CBD location.
The Manager is seeking to raise $57.6M through the issue of 57.6M units priced at $1.00 per unit. The Offer is available to wholesale and sophisticated investors. The funds raised will be used to acquire a 50.1% interest in the Property, with a cornerstone investor acquiring the remaining 49.9%.
The Manager is targeting distributions of 7.5% - 8.5% p.a. over a five year term.
Core Property has rated the Fund as RECOMMENDED.