Australian Property Growth Fund has a substantial property funds management business with current assets under management of approximately $1.2 billion, comprising more than 60 properties. The properties are diversified across the commercial office, residential, retail, hotel and industrial property sectors and geographically across Sydney, Melbourne, Brisbane, Perth, Canberra, Hobart, Newcastle, the Gold Coast and Cairns.
APGF focuses on the proactive management of property assets to maximise net income and investor returns. Following several acquisitions APGF has developed a reputation as a consolidator within the industry.
The Elderslie property funds management business that was acquired in June 2007 represented 18 property trusts/syndicates that allowed investors to participate in the ownership benefits of substantial investment grade commercial property that would otherwise be unaffordable for retail investors.
The Domaine funds management business was acquired in March 2009 and comprised four unlisted diversified property investment funds.
In April 2010 APGF acquired the Property Funds Australia property funds management business with its flagship PFA Diversified Property Trust, a quality property trust established in 2003.
Benefits to APGF from its property funds management business include:
- attractive return on equity;
- stable recurring funds management fee income;
- significant project pipeline;
- more than 10,000 investors throughout Australia and
- geographic and property sector diversification.
APGF has a strong brand in property funds management and has increase its market share during the sector's recent cyclical low. The increase in market share places APGF in a strong strategic position and enhances our ability to continue to grow and increase the profitability of the business as market conditions improve.