Yarmouth closes first private real estate trust

>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.