Core Property has reviewed the APIL Diversified Property Income Fund, a newly launched property fund by APIL Group, a property fund manager with over $670M of assets under management.
The Fund is an open-ended property fund that seeks to deliver a high level of income stability for investors by investing in a diversified portfolio of well-located properties with strong lease covenants.
- The Fund’s initial asset is 50 Subiaco Square Road, Subiaco WA, a mixed-use commercial property located 4km to the west of the Perth CBD. The Property is a prominent office and retail asset situated adjacent to the train station and enjoys 100% occupancy with a weighted average lease expiry of 4.2 years.
- Based on the Subiaco property, the Manager is targeting the Fund to deliver initial distributions of 7.00%+ p.a., in line with the Fund’s ongoing target of 6.50% - 7.50% p.a.
The Fund is seeking to raise $8.8M through the issue of 8.8M units at $1.00 per unit. The Offer is available to wholesale investors with a minimum subscription of $50,000.
Core Property has rated the Fund as RECOMMENDED.