Core Property has reviewed the GDI No.46 Property Trust, the latest unlisted property fund offering from GDI Property Group.
The Fund is seeking to raise $75.7M from investors to acquire a portfolio of car dealerships in Perth WA. The 17 properties are located on major arterial roads in metropolitan locations 10-21 kms from the Perth CBD.
The properties are fully leased and provide for long term tenancies with a Weighted Average Lease Expiry of 11 years, as well as 5x5 year options for renewal.
GDI is forecasting initial distributions with a 7.75% yield (annualised), increasing to 8.0% in FY21.
The Fund is open to Wholesale investors only, with a minimum subscription of $50,000.
Core Property has rated the Fund as RECOMMENDED.