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.
Advertisement
Advertisement
News
- 23 Jan 2019Adelaide adviser permanently banned from industryBy Eliot Hastie
- 23 Jan 2019Bowen slams ‘woeful’ handling of royal commissionBy James Mitchell
- 23 Jan 2019Gender super gap lower but still at 34%By Adrian Flores
- 22 Jan 2019Advice issues stem from writing of SOAs, says RafteryBy Adrian Flores
- 21 Jan 2019Federal Court winds up CFS Private WealthBy Eliot Hastie
- 22 Jan 20192.44m Aussies suffer from financial stressBy Sarah Simpkins
- view all
