Yarmouth closes first private real estate trust

Yarmouth closes first private real estate trust

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.

Yarmouth closes first private real estate trust
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