Unlisted Property Funds

An unlisted property fund is a form of direct property investment that provides investors the opportunity to gain access to commercial property assets through an investment in a fund. By investing in an unlisted property fund, investors will receive units in the fund/trust which holds the property assets that are managed by a professional property investment manager such as Centuria. Unlike listed property funds, unlisted property funds are not traded on the Australian Securities Exchange (ASX).

To find out more about our current unlisted property fund opportunities or to register for future opportunities please see our open offers below.

Unlisted property funds can be categorised into two different structures:

  • Closed ended: In a closed-ended structure, investors will receive units at the commencement of the fund and generally cannot redeem until the underlying property is sold, proceeds are distributed and the fund is wound up. These are typically single asset funds and run for a fixed-term of 5-7 years. Centuria has a number of closed ended unlisted property funds that are typically single asset funds that invest in high value commercial property across Australia.
  • Open ended: In an open-ended structure, the property fund can continue to issue units and acquire new properties on an ongoing basis. The fund has a diversified portfolio of properties where there is no fixed-term of investment, meaning the fund remains open with no definite end date. Instead, investors are offered a liquidity facility where they can redeem part or all of their units in the fund at regular or certain times during the life of the fund. Centuria has one open ended unlisted property fund, the Centuria Diversified Property Fund (CDPF). The CDPF aims to provide monthly tax effective income and the potential for long term capital growth by investing (directly and indirectly via investments in unlisted property schemes which invest in direct property) in a diversified portfolio of predominantly office, industrial and retail properties located in Australia. The Fund has a target allocation to hold approximately 20% of its assets in liquid investments. These will consist of cash and ASX listed A-REITs. The CDPF pays monthly distributions, accepts daily applications and has a limited monthly liquidity facility.

The benefits of unlisted property funds are that they have the potential to provide investors with returns in the form of capital gains and regular distribution (rental) income. They also enable investors to gain exposure to the commercial property market at a relatively low entry point without the requirement to manage the properties themselves. The key things to consider when investing in unlisted property funds are the liquidity of the fund, the gearing of the properties in the fund and understanding the individual properties held by the fund and their characteristics. You should also consider whether this general information is appropriate for you and consult your financial or other professional advisor before investing. For further independent information, please read the MoneySmart guide to investing in unlisted property schemes.


Open Offers

348 Edward Street Brisbane

Centuria 348 Edward Street Fund

Open for Investments

A closed-ended single asset fund offering investment in a high quality commercial building in Brisbane’s CBD:

  • Closed-ended single asset fund
  • 6.25% p.a.^# starting distribution yield
  • Monthly distributions
  • Minimum investment of $50,000.
asset value6.25%^#
Starting forecast yield
lease88%
Portfolio occupancy
tick5.1 years*
Portfolio WALE

^ Annualised distribution yield for the period 12 December 2019 to 30 June 2020.
# Forecast returns are predictive in nature and are calculated in accordance with a number of underlying assumptions set out in the Product Disclosure Statement. As such, returns may be affected by incorrect assumptions or by known or unknown risks and uncertainties and may differ materially from results ultimately achieved. Returns are not guaranteed.
* Weighted Average Lease Expiry by income as at 1 December 2019 including an 18 month rental guarantee over vacant tenancies and subject to Heads of Agreement leases not yet finalised.

80 Grenfell St Adelaide

Centuria Heathley Direct Medical Fund No.2

Open for Investments

A closed-ended diversified fund offering investment in the growing healthcare sector:

  • Diversified healthcare property portfolio
  • 6.56% p.a.1 starting distribution yield
  • Quarterly distributions
  • Minimum investment of $50,000.
lease99.7%1
Portfolio occupancy
tick7.9 years1
Portfolio WALE
asset value151
Properties

 

80 Grenfell St Adelaide

Centuria Diversified Property Fund

Open for Investments

An open-ended diversified fund offering investors tax-effective monthly income and the potential for long-term capital growth:

  • Diversified property portfolio
  • Limited monthly liquidity facility
  • Monthly distributions
  • Minimum investment of $10,000.
lease99.47%2
Portfolio occupancy
tick5.26 years2
Portfolio WALE
asset value142
Properties

1. As at 30 June 2019. Annualised forecast yield for FY20 growing to 6.74%p.a.in FY21. The distribution yield is calculated on an issue price of $1.0316 and is therefore subject to change. Forecast returns are predictive in nature and are calculated in accordance with a number of underlying assumptions set out in the Product Disclosure Statement. As such, returns may be affected by incorrect assumptions or by known or unknown risks and uncertainties and may differ materially from results ultimately achieved. Returns are not guaranteed.
2. Key portfolio metrics are based on the underlying unlisted property schemes CDPF invests in as at 30 September 2019.


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