Elanor enters strategic partnership with Rockworth

Elanor Investors Group (ASX: ENN) announced that it has entered a strategic partnership with Singaporean based group, Rockworth Capital Partners. Rockworth is now the largest major shareholder in ENN after acquiring an 18% stake at $1.85 per security of which 14.4M securities were from existing securityholders and 3.5M of newly issued securities. The partnership will look at opportunities for Elanor to increase its assets under management with the support of Rockworth’s co-investment.

Rockworth was established in 2011 and already owns a portfolio of 14 assets in Australia valued at around $850M. Its most recent acquisition was the office building at 100 Edward Street, Brisbane QLD for $60M in August 2018.

Other notable investments by Asian based investors in the property sector include ESR’s recent acquisition of Propertylink, ARA Asset Management’s holding in Cromwell (ASX: CMW) and SC Global’s investment in AV Jennings (ASX: AVJ).