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Elanor Hotel Accommodation Fund

Hotel accommodation fund targeting distributions of 8.0% - 11.4% over 3 years

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Core Property has reviewed the Elanor Hotel Accommodation Fund, the latest unlisted property fund offering by Elanor Funds Management Limited.

The Fund provides an opportunity to invest in a diversified portfolio of hotel accommodation properties across Australia. The Manager is targeting earnings growth for the portfolio over the next 3 years, following the impacts of COVID-19 in 2020/2021.

The Manager is seeking to raise $92.7M through the issue of 92.7M units priced at $1.00 per unit. The key aspects of the Offer include:

  • A portfolio of 14 hotel accommodation properties, with a focus on the luxury and regional market segments, valued at $350M. The Manager is looking to grow the portfolio to over $500M in 3 years, with the potential for a liquidity event via portfolio sale or ASX listing.
  • Forecast distributions of 8.0% - 11.4% p.a. over three years.
  • A Distribution Guarantee by the Manager for a minimum 8.0% p.a. (annualised) from Allotment Date until 30 June 2022.
  • An initial NTA of $0.97 per unit.
  • The Offer is available to wholesale and sophisticated investors.

Core Property has rated the Fund as RECOMMENDED.  

Core Property Rating - Recommended

Fund Status - Open

This publication is not and should not be construed as, personal financial product advice, an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Any opinion contained in the Report is unsolicited general information (general financial product advice) only. Read more here.