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MacarthurCook Industrial Property Trust – assets pass $150 million
- 17 July 2006
Specialist real estate investment manager MacarthurCook Limited today announced the acquisition of an additional property in New South Wales for the MacarthurCook Industrial Property Trust.
The property, at 22 Rodborough Road, Frenchs Forest, was acquired for $9.25 million, reflecting a yield of approximately 8.57 per cent.
The Trust exchanged contracts to acquire the property on 14 July 2006, taking the Trust’s portfolio to 14 individual properties in five states with a combined value of over $150 million.
The Managing Director of MacarthurCook Limited, Mr Craig Dunstan said “The acquisition will take the MacarthurCook Industrial Property Trust to just under $150 million in total assets and follows the recent acquisitions of Arc Funds Management Limited, which provided MacarthurCook with the management of $110 million of retail property, two additional properties in Adelaide and Canberra with a combined value in excess of $50 million acquired for the MacarthurCook Office Property Trust and the launch of the RMR Asia Pacific Real Estate Fund listed on the American Stock Exchange.”
“With the backing of the strong investor support that the Trust has enjoyed to date, we will continue to search the nation’s industrial markets for investment opportunities.”
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MacarthurCook enters US market with listed Asia Pacific Real Estate Securities Fund
- 26 May 2006
Specialist real estate investment manager MacarthurCook Limited today announced its entry into the key United States market as an investment manager.
MacarthurCook and leading US real estate group RMR Advisors Inc, based in Boston, have jointly developed the RMR Asia Pacific Real Estate Fund.
MacarthurCook Limited’s Managing Director, Mr Craig Dunstan, said the Fund had just completed a A$45 million capital raising in the US, which was lead managed by RBC Capital Markets.
Mr Dunstan said that the RMR Asia Pacific Real Estate Fund (“Fund”) will list on the American Stock Exchange on 26 May 2006 (US Eastern time).
The Fund is the first fund (either open-ended or closed-end) in the US focusing on Asia-Pacific real estate securities. RMR Advisors will manage the Fund, with MacarthurCook acting as the sub-advisor/investment manager.
Today’s announcement follows the recent approval of MacarthurCook as an investment advisor by the US Securities and Exchange Commission. The approval enables MacarthurCook to manage investment funds on behalf of US clients.
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MacarthurCook gains $110 million retail portfolio
- 10 April 2006
Specialist real estate investment manager MacarthurCook Ltd today announced it was entering retail property funds management after reaching an agreement to acquire Arc Funds Management Ltd.
Arc manages two retail properties with a combined value of more than $110 million.
MacarthurCook Managing Director Craig Dunstan said the acquisition of Arc from Professional Investment Holdings Ltd would provide an avenue for the Company to enter the retail property sector via a strong retailing concept.
Arc Funds Management is the responsible entity for two property funds: the Brand Smart Nunawading Syndicate, and the Brand Smart Riverbank Syndicate.
“Brand Smart’s Nunawading centre was Australia’s first premium factory outlet,
and both Brand Smart centres now provide unique shopping experiences,”
Mr Dunstan said.
“The Brand Smart property funds have total assets of more than $110 million, which will bring MacarthurCook’s funds under management to about $850 million.”
The agreement to acquire Arc follows the expansion in recent years of MacarthurCook’s sector-specific property funds, including the $118 million MacarthurCook Industrial Property Trust and the $75 million MacarthurCook Office Property Trust.
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For more information on Brand Smart centres, please visit their website.
MacarthurCook Industrial Property Trust -
assets pass $135 million
- 20 April 2006
Specialist real estate investment manager MacarthurCook Limited today announced it has bought the Seville Business Park in western Sydney for the MacarthurCook Industrial Property Trust.
The property, at 44-46 Mandarin Street, Villawood, New South Wales, was bought for $22.036 million, reflecting a yield of about 8.4 per cent.
The Trust exchanged contracts to acquire the property today. The deal takes the Trust’s portfolio to 13 properties in five states, with a combined value of more than $135 million.
MacarthurCook Managing Director Craig Dunstan said: “The additional acquisition will be funded from strong inflows from clients of financial planners and smaller institutions who are attracted to the strong forecast income return of 9.10 per cent per annum for Retail Units and 9.40 per cent per annum for Wholesale Units over the forecast period.
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Specialist real estate investment manager MacarthurCook Limited today announced the acquisition of four industrial properties for the MacarthurCook Industrial Property Trust, for a combined total of $32.8 million.
Trust’s assets pass $118 million
The Trust has exchanged contracts to acquire one property in Frenchs Forest in New South Wales, one in Eagle Farm in Queensland, and two properties in Launceston, Tasmania.
The acquisitions take the Trust’s portfolio to 12 individual properties with a combined value of more than $118 million.
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The Directors of MacarthurCook Limited (the “Company” and “MCK”) are pleased to announce the establishment of the MacarthurCook Limited Share Purchase Plan (the “Plan”) and an offer under the Plan. The Plan enables shareholders in the Company to increase their shareholding at a discount to the prevailing market price of MCK shares, without incurring transaction charges such as brokerage.
The Plan is being implemented to raise funds for the Company to increase its working capital to assist in expanding its distribution capability and to explore international capital raising and asset acquisition opportunities. This was noted in the Company’s market announcement which accompanied the recent half-year results.
An offer document and application form will be dispatched to shareholders on or about 14 March 2006.
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MacarthurCook Fund Management Limited, as responsible entity of the MacarthurCook Property Securities Fund (the “Fund”), is pleased to announce its audited financial results for the half-year period to 31 December 2005.
The Fund has posted a net profit for the 6 months of $8.24 million – an increase of 177.4% over the previous 6 month period. Earnings were 8.51 cents compared with 4.23 cents in the previous period, on a weighted per unit basis. The half year's earnings represent 88% of the full year forecast to 30 June 2006 set out in the Product Disclosure Statement (PDS) issued in connection with the rights issue and public offer in September 2005.
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