. . World News – AU – Charter Hall brings in $ 2. 6b for industrial funds amid a pandemic


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The fund manager charter hall brought in a whopping $ 2. 6 billion for its main industrial fund during the duration of the pandemic, which was heavily supported by global institutional investors amid economic uncertainty.

Charter Hall closed a second, oversubscribed, $ 1. $ 3 billion raise in capital two weeks ago, initiated in September and riding on the tails of a dollar. 3 billion raised capital in April. The funds from the second increase will not be used until mid-2021.

In COVID-19, the demand for access to industrial and logistic goods has accelerated, something Charter Hall has been actively focusing on.

A number of new institutional offshore investors, including from Japan, Thailand, the UK, Switzerland and Canada, invested in the fund, highlighting the relative strength of the Australian industrial property rights market in a global context.

Unlisted wholesale fund CPIF – Australia’s largest unlisted real estate and logistics fund – is valued at $ 5. 8 billion real estate portfolio consisting of 76 assets and 2. 6 million square meters of space. In terms of value, around 90 percent of the portfolio is in the land-based markets on the east coast of Sydney, Melbourne and Brisbane.

The fund now has the capacity to grow to over $ 8 billion through acquisitions and developments while keeping gearing below its target level of 30 percent, according to Charter Hall.

David Harrison, managing director and group chief executive of Charter Hall, said most institutional investors are significantly underweight the industrial and logistics sectors, recognizing the potential for growth and attractive long-term stable returns.

CPIF’s portfolio has 52 percent exposure to the consumer staples sector and has a develop to core pipeline of more than $ 1 billion, both of which were attractive to investors.

« The industrial and logistics sector continues to benefit from the rapid growth of online retail and the focus on increasing efficiency in the supply chain, » said Harrison.

« Institutes recognize that by investing in Charter Hall, they can secure access to a high quality, growing portfolio of strategically located industrial and logistics facilities, backed by strong tenant regulations and long weighted average contract terms. « 

Charter Hall’s industrial and logistics platform has now exceeded $ 11. 5 billion with significant growth prospects, said Mr Harrison.

Earlier this year, investment in Australian industrial real estate matched the cash flow in office real estate for the first time. This was triggered by the e-commerce boom, which underpinned logistics properties and investors’ uncertainties about long-term occupancy of the workplaces.

Charter Hall, David Harrison, Mutual Fund, Investor

World News – AU – Charter Hall Raises $ 2. 6b for industrial funds amid a pandemic
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Ref: https://www.afr.com


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