On 19 August 2016, US Masters Residential Property Fund announced a capital raising via a Unit Purchase Plan (UPP) and placement. The placement is available to both new and existing Unitholders to gain exposure to US residential property. The PDS can be obtained here.
Disclaimer: Walsh & Company Investments Ltd (ACN: 152 367 649, AFSL 410 433) offers Units in US Masters Residential Property Fund under a PDS which describes the terms of the offer. Prospective investors should consider the PDS in full, when deciding whether to acquire Units.
About US Masters Residential Property Fund
US Masters Residential Property Fund (Fund) was established in 2011 and is listed on the Australian Securities Exchange (URF.ASX). The Fund was established to give investors exposure to US residential property and is the largest Australian-listed property trust with a primary strategy of investing in freestanding and multi-tenant US residential property in the New York metropolitan area. The Fund is focused on seeking to achieve long-term returns through a combination of income from rental yields along with potential long-term capital growth.
Since 2011, the Fund’s portfolio has grown to 1,462 housing units across 587 freestanding properties and 13 apartment buildings, with an enterprise value of approximately $1 billion (as at 31 July 2016).
The Fund conducts all its New York metropolitan area residential investment through its controlled entity US Masters Residential Property (USA) Fund, a Maryland Real Estate Investment Trust (US REIT). A dedicated team of highly-skilled professionals based in New York manages every aspect of the real estate investment process – from acquiring the properties and rehabilitating the assets, to leasing the homes and ongoing tenant management.