Aust Unity rolls out property syndicate
Australian Unitywill be rolling out its first property syndicate under its own brand next month as the first step towards the launch of a series of syndicates throughout this year.
“The syndicate is estimated to have a 9 per cent return initially, with further incremental growth during the six-year life of the investment,” Australian Unity Funds Management head of property Tory Richards says.
Australian Unity group managing director Mark Sibree says this syndicate will add to the $450 million of direct property investment already under management.
“This investment fits in well with people’s perception of Australian Unity products providing income streams for their investment,” he says.
“It will be the start of a number of syndicates we plan to launch and it complements the existing syndicates we acquired with the takeover of York Capital and Waltus Investments.”
Sibree confirmed the York and Waltrus syndicates will be re-branded under the Australian Unity banner shortly.
Independent reports on the new syndicate have been prepared by bothProperty Investment Researchand Lonsec.
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