The Fund has focused its investment strategy in the New York metropolitan area since its inception in 2011. Within the New York metropolitan area, the Fund focuses on investing within undervalued neighbourhoods experiencing growth and gentrification, specifically in Brooklyn, Manhattan and Queens, New York and Hudson County, New Jersey.

Location of our properties:

Portfolio composition1:

Area Number of properties Value (US$ million) % of portfolio (by value)
New York Premium 146 415.6 48%
Hudson County Premium 133 239.6 27%
Hudson County Workforce 358 157.8 18%
Total freestanding 637 813.0 93%
Multi-family 16 62.1 7%
TOTAL 653 875.1 100%

The Responsible Entity believes the initial target investment area of the New York metropolitan area has a number of favourable characteristics which make it attractive for investment.

  • Strong economic fundamentals – investing in the largest and fastest growing city in the US, with a GDP roughly equivalent to Australia.
  • Highly favourable economic dynamics – constrained housing supply and high rental demand.
  • Attractive valuations and high quality housing stock – exceptional quality houses able to be purchased at or below replacement cost.
  • Urban, high density market – targeted geographic footprint provides the Fund with significant scale economies.
  • Urban growth revival – strong demographic, economic, and social trends driving urban growth revival.
  • Excellent mass transit systems – all investment properties are within a one hour mass transit commute time to mid-town Manhattan.

Sample our properties:

1Portfolio composition as at 31 March 2017