Centuria 19 Corporate Drive Fund, managed by Centuria Property Funds has been awarded the Unlisted Fund of the Year 2012 at the 18th Annual Property Funds Industry Forum.
The Centuria 19 Corporate Drive Fund was commended for its high level of income return and forecast capital gain, and the industry-leading governance structure, which reflects a focus on investor rights.
Speaking about the win, Chief Executive Officer of Centuria Property Funds, Jason Huljich said:
“Centuria is pleased to receive this award as recognition of the strong performance structure of the Centuria 19 Corporate Drive Fund. It also reflects the caliber of our team and the high quality investments we aim to offer investors. We continue to explore opportunities that respond to trends we see in property markets that have the potential to deliver excellent returns to investors. We have great expectations for Centuria 19 Corporate Drive Fund and this latest award supports these.”
Centuria 19 Corporate Drive Fund is the latest product offering from Centuria Property Funds and will distribute 9.75% p.a. in its first year growing to a forecast 10.00% p.a. in year two. Equity raising for the Fund is currently underway, with the opportunity to invest closing in mid November 2012.
Centuria 19 Corporate Drive Fund is a single asset, closed-end unlisted property fund investing in a high quality commercial office building in the heart of the Southgate Corporate Park. The investment will provide strong income underpinned by an excellent tenancy profile and potential capital growth through a combination of active asset management and a recovery in the wider property market over the longer term.
“We are currently experiencing strong demand for our unlisted funds from individual investors and wealth management groups. Investors are seeking opportunities that can provide strong income returns backed by ‘hard assets’. Property as an asset class, with its high proportion of total return generated by income yields, is well positioned to meet this demand.” Huljich said.
