Core Property has reviewed the Richmond Bridge Opportunity Fund 2, an unlisted property fund that targets Value-Add investments in industrial and logistics properties across Australia.
The Fund is managed by Richmond Bridge, a privately owned real estate investment management firm with over $1.9 billion of industrial assets under management. The key management personnel have extensive experience in managing industrial and logistics assets and has reported an unrealised return of ~16% p.a. on assets since 2022.
The Fund targets an Internal Rate of Return (IRR) of over 12% p.a. The Manager has a good track record and experience in delivering on the Fund’s strategy which targets industrial and logistics that have the potential for Value-Add initiatives includes re-leasing, asset repositioning, refurbishment, expansion or strata sell off. Properties are expected to be located close to transport hubs and primarily located in the east coast capital cities of Sydney, Melbourne and Brisbane.
The Fund is seeking to raise up to $200M through the issue of 200M units at $1.00 per unit. The funds raised will be used, in combination with debt, to acquire and manage the portfolio as part of the investment strategy. The Offer is available to Wholesale and Sophisticated investors with a minimum investment of $100,000.
Core Property has rated the Fund as RECOMMENDED.