Yarmouth Real Estate Investments (Yarmouth REI) has closed its first private real estate trust oversubscribed.
The underlying asset of the fund is a $6 million 13-apartment residential development project in the inner Brisbane growth suburb of Cannon Hill.
The $1.95 million wholesale fund was oversubscribed within a month and has been backed by a leading Australian family office. The fund is targeted to return a pre-tax IRR of 19.5 per cent to investors over a 12-month term.
The project is being managed by Brisbane's Nielson Properties, a leading Queensland real estate developer and asset manager.
Yarmouth REI is a real estate funds management joint venture between Sydney-based Yarmouth Group and Brisbane-based Nielson.
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