NOW Closed – Now closed to investment.
The Fund acts as an Australian feeder fund into the assets of Real Estate Opportunity Capital Fund, LP (“ROC II”). ROC II is a US$2.1 billion “buy, fix, sell” private equity real estate fund, investing in value-add US multifamily apartment communities and office buildings, which are generally acquired opportunistically from distressed sellers or Mortgagees in Possession.
The Fund owns a 5.88% share of a diversified portfolio of ‘value-add’ real estate assets across the US. As at the date of this update, the ROC II portfolio had invested in 52 multifamily apartment communities and 9 office buildings, and of these 11 have now been sold at an average 22.2% net IRR and 1.38x multiple on invested equity. US$1.9 billion in assets remain, which will also be progressively sold down during the ‘harvest period’ as each asset’s value has been maximised and stabilised.
|Performance as at 30 June 2019||Net Returns*|
|3 years p.a.||1.24%|
|5 years p.a.||9.47%|
|Since inception p.a.||9.66%|
*Performance returns are based on an investment made at the Fund’s first issuance of units in June 2013 at $1.00 per unit and includes Unit Price growth from commencement of Net Asset Value calculated after all fees and expenses following the completion of capital raising in December 2013. Unit Price and performance do not include the value of Foreign Income Tax Offsets (FITOs) which have been distributed in addition to cash. Individual investor performance will vary according to the Issue Price at which they were issued Units in the Fund. Past performance is not an indicator of future performance.
|Date||Unit Price||Net Quarterly Return|
|30 June 2019 (EX)||$0.0717|
|30 June 2019 (CUM)||$0.0971||0.52%|
|Period||Distribution Amount (cents per unit)||EX price||Distribution Component|
|30 June 2019||2.5450 CPU cash||$0.0717|
|30 June 2018||27.4924 CPU cash, 11.3140 CPU FITOs||$0.0999|
|30 June 2017||99.3670 CPU cash, 15.4574 CPU FITOs||$0.3749|
|30 June 2016||28.3186 CPU cash, 0.7398 CPU FITOs||$1.2815|
|30 June 2015||6.9306 CPU cash, 0.4833 CPU FITOs||$1.4809|
|30 June 2014||2.4545 CPU cash, 0.3777 CPU FITOs||$1.0814|