New US-focused property fund launched
A new product has been launched in Australia targeted at investors interested in property opportunities in the US.
The product, the Cashel USA Residential Property Fund, is being marketed as assisting individual investors wishing to take advantage of the opportunities associated with purchasing, renovating and renting out US-based foreclosure (or distressed) properties.
Fund director Jodie Hannaford said she believed the fund's approach offered investors an option to participate in a structured, tax-efficient portfolio with a diverse range of property types and locations, while minimising the risks associated with having all eggs in one basket.
"Opportunities are available now to invest in distressed homes - and with the US housing market showing signs of improvement, the opportunity to get the great deals we are seeing today will be a short-lived one," she claimed.
"We realise the logistics of purchasing an international property portfolio may be hard for mum and dad investors from Australia, and the risk factor higher if they're not able to diversify their investment by location, which is why after successfully establishing two wholesale funds for sophisticated investors, we have created our first retail fund," Hannaford said.
The fund, which recently underwent an independent research review and was given an A+ rating from Property Investment Research (PIR), aims to raise $25 million from investors and a further $25 million in debt to invest in foreclosed, short sale or auctioned residential rental properties in areas where value can still be found, including the South and Midwest of the US.
Recommended for you
While the number of advisers switching tends to tick up at the end of the year, Padua Wealth Data reveals which business model sees the most adviser loyalty.
Private credit, auditor misconduct and super trustees have been listed among ASIC’s priorities as the regulator unveils its top focus points for the coming year.
Melbourne-based investment manager Woodbridge Capital has appointed an origination director for south-east Queensland, strengthening its foothold in the region as part of its national expansion strategy.
Barings has appointed a new head of Asia Pacific to succeed Duncan Robertson, who will retire after almost two decades with the firm.
