Qualitas and Heathley are set to debut on the ASX before year end, with a high yielding debt fund and a healthcare REIT.
Qualitas has raised around $230M for what will become Australia’s first “pure property debt listed investment trust”, the Qualitas Real Estate Income Fund (ASX: QRI), which is expected to list on the ASX on 27 November. The Fund will invest in property loans, primarily secured by first mortgages in the commercial real estate finance market, with targeted returns of 8% p.a.
Heathley Asset Management is also looking to proceed with the ASX listing of its proposed Heathley Healthcare REIT. Heathley is understood to be finalising bids to raise $224.6M and expects to lodge a prospectus with ASIC on 22 November, ahead of a 12 December listing date. The initial public offering is priced at $2.00 per security and implies a market capitalisation of $373M with a targeted FY19 yield of 5.75% (annualised). Dexus has committed to a minimum 10% investment in the REIT.