Past Opportunities

Banner Revolving Land Facility

This investment provided an opportunity to invest in a first mortgage revolving land facility to assist with acquisition of development sites for the well-known Melbourne based developer, Bensons Property Group.

The facility is a first mortgage secured loan over the property. It has a general security deed over the SPV of the land holding entity, corporate guarantee from the SPV of the land holding entity, and a personal guarantee from the director. With a loan-to-value ratio of 50%, and payment on a monthly basis to investors of 30-day BBSW plus a margin of 6.5% p.a.

KordaMentha Property Industrial No.1

This investment provided an opportunity to purchase a good quality industrial asset in Melbourne’s core warehouse and manufacturing precinct, Dandenong South. The investment reflects core-plus risk-adjusted returns, with strong capital preservation given the quality of the building and high underlying land value.

Investors were provided with an opportunity that strategically utilised a short-term lease to capture the upside of rising commercial rents. Industrial assets have seen tremendous growth, as market rents for warehouses in Australia have seen significant increases in the past 24-months. Melbourne rents on average are up 23.4% year-on-year, and the market is experiencing sub 1% vacancy rates for the first time in history.

Dexus Real Estate Partnership 1 Fund

The Partners Private Dexus Real Estate Partnership 1 (Fund) has been established as a feeder fund to access the Dexus Real Estate Partnership 1 (Dexus Fund), a closed-end opportunistic pooled investment vehicle, the first in a planned series of opportunity funds. The fund sought to provide investors with an enhanced return via exposure to investments in property repositioning, development, special situation opportunities and alternative credit. The Dexus Fund represents an exclusive opportunity for non-institutional investors to access a concentrated exposure to this strategy, which Dexus has not previously made available to external investors.

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Pacific East Coast Management Rights Debt Fund

The offer was one of a Management Rights Debt Fund, one of Australia's largest and most successful private residential management rights businesses, Tessa, who have a proven record of success over 21 assets.

The Pacific East Coast Management Rights Debt Fund is targeting 10.25% p.a yield, distributed every month. In addition to this, 22.5% of any uplift of the total value of the Management Rights assets during the Fund term, which when combined has the potential to generate returns to the investor in the order of 14-17% p.a.

AVARI Mamre Road Mortgage Fund

The investment was a first mortgage, senior secured debt facility, secured over the land at 885-899 Mamre Road, in the Western Sydney area of Kemps Creek. The area is fast becoming an industrial hub, with the construction of the new Badgery’s Creek Airport due for completion in 2025-2026.

The loan will be used to settle the asset purchase and work on development approval and has a current loan-to-value ratio of 57%, with an independent valuation recently complete at $42m. There is significant credit support underpinning the loan facility, with four months interest paid upfront, a personal guarantee, and a 60% LVR covenant.

Clifftop Lapilli Lane Mt Buninyong

Development of 12 luxury bespoke accommodation residences (1 x Ascension, 1 x Premium Sky Barrel, 10 x Clifftop villas) in regional Victoria. Award winning designs, offering seclusion and tranquility while sleeping on nature’s doorstep. Envisioned to create lasting memories whilst combining style and first-class location.

Acorn Capital Expansion Platform II (ACEP2)

This investment opportunity relates to a Private Equity early stage and growth expansion capital Fund, focusing on small cap unlisted companies that mostly exit through ASX listings. Acorn has a history of small and micro-cap equity management and expansion capital since 1998, with a history of mid 20% IRR returns over a 50-deal track record.

Acorn has a fee structure slanted towards performance incentives, which ensures priority of performance, and targets a 20% per annum return over an eight year period. Furthermore, Acorn invests through an Early Stage Venture Capital Limited Partnership for eligible investments, which are CGT, income tax free and provide a 10% tax offset to investors, under certain circumstances.

Harvest Hotels Pub Fund 1

This investment was initially established in March 2019, with the purpose of improving the value of two pubs, through development, upgrades and refurbishment. Whilst COVID-19 caused some delays and setbacks, the group has managed to deliver significant returns to investors with an average IRR of 28.4% to date. HPF1 now holds four independently valued hotels, The Courthouse Hotel, The Railway Hotel, The Milestone Hotel and the William Farrer Hotel, which total $82.4m in value.  Fund 1 prioritises and targets regional NSW, however it is also actively seeking to diversify into regional VIC, QLD and the NT for potential investment opportunities.

Harvest Hotels Pub Fund 2

The Harvest Pub Fund 2 by Harvest Hotels offered an attractive investment opportunity for clients. Harvest Hotels specialises in regional pubs and has a proven track record in adding value to acquired pubs through capital and operational improvements.

The Fund forecasts 9% annual cash distributions paid quarterly and a forecast IRR net of management fees of 19%. Management Fees are 1% of gross pub portfolio value, 12% of the Group’s Pub EBITDA, and an acquisition fee of 1% of pub purchase value. Performance fees also apply of 20% of the outperformance of IRR exceeding 10% after fees. Gearing is capped at 50%.

Harvest Hotels Pub Fund 3

This investment opportunity relates to a Pub accumulation strategy, based in the suburban areas of South Australia, targeting 12 local regions of high growth within Adelaide. 

Harvest Hotels have a strong track record, having distributed 10.76% in cash to investors in FY21 in other Funds, and have generated an average weighted IRR of 28% on equity (net of fees) since inception in 2014. Harvest Pub Fund 3 is completing an initial capital raise of $50m and is forecast to return 8% annual cash distributions (paid quarterly) and capital growth, with a forecast Fund equity IRR of 17% net of management fees. 

Lucent Capital Stewart Street Unit Trust

Funding opportunity for a 4-5 level development at 269 Stewart St Brunswick East. Lucent were looking for $2,721,000 to fund a component of land settlement, permitting, sales commissions and marketing costs. Our clients can expect a minimum return of 15.00% p.a. (but up to 17.61% p.a. if profit meets target) over a 31 month timeframe (March 2021 maturity date).

Newmark Bourke Street Mall Trust

KordaMentha Property Thynne Street Property Fund

Clients had first access to invest in an A-Grade commercial office building valued at $9.3 million, located in Bruce, Canberra. This is an attractive asset due to the tenant being the Australia Institute of Health and Welfare (AIHW), a statutory agency of the Commonwealth Government of Australia, while also promoting an expected distribution yield of 7.1% and a lease agreement exceeding 9 years.