Core Property has reviewed the Stadia EMP No.2 Trust, an unlisted property fund by Stadia Capital. The Fund will be the third unlisted fund for Stadia Capital, following the recent EMP No.1 Trust established in December 2020.
The Fund is acquiring an 80% interest in two office buildings in the well-located Freeway Office Park in Eight Mile Plains QLD, approximately 18kms southeast of the Brisbane CBD. The buildings provide attractive property metrics, being fully leased to quality tenants, including Teys Australia and Integria Healthcare, with a weighted average lease expiry of 5.4 years.
The Manager is seeking to raise $20.8M to fund the acquisition, through the offer of 20.8M units priced at $1.00 per unit. The Offer has a close date of 30 June 2021 and is available to wholesale investors.
Target distributions by the Manager are 9.5% p.a. in FY22, increasing to 9.8% in FY23.
Core Property has rated the Fund as RECOMMENDED.