Primewest Property Income Fund acquires office asset

Primewest Property Income Fund acquires office asset

Core Property has reviewed the Primewest Property Income Fund, an open-ended property fund managed by Primewest.

The Fund is now a registered managed investment scheme with ASIC, and is open to all investors with a minimum investment of $10,000.

The Fund continues to seek investments to build a diversified portfolio of properties across the office, industrial/logistics, healthcare, agriculture, social infrastructure and retail sectors. The Fund is looking is acquire its 4th asset, a newly constructed, fully leased office property in Maroochydore QLD. The portfolio also includes 3 fully occupied childcare centres located in QLD, WA and SA.

Key features of the Fund include:
  • Investors may acquire units based on the Daily Unit Price, which is $1.00 per unit, at 1 March 2021.
  • Targeted distributions are 5.5 cpu for 2021.
  • Liquidity is provided via a Limited Monthly Withdrawal Facility.
Core Property has rated the Fund as RECOMMENDED.