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Property funds
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What are property funds? |
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Why
are property funds popular? |
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Who
is the property funds manager or promoter? |
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Publications on property funds
management |
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Putting together a property fund |
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APX |
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Recent projects |
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A property fund is any investment vehicle used to acquire, develop
or trade in property-related assets. Some examples of property
funds include—
- unlisted property trusts
- property syndicates
- listed
property trusts
- property securities funds
- development syndicates, and
- fully managed strata
title property.
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Property funds are a means of offering investors
access to a property-related asset they might not have the ability to
invest in on their own account.
For example, a listed property trust will give all the investors ownership
interests in properties which could include very large commercial, retail
or industrial properties tenanted by some of the largest companies operating
in Australia.
Also, if there is a
development involved, then investing through a fund managed by an
experienced and qualified operator provides investors with the opportunity
to share in development risk and return. |
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The promoter is a person who
establishes the fund and is usually involved in its ongoing management. Promoters have appropriate property-related
skills, but also have the special skills needed to manage a property
fund.
The rewards for the promoter generally
come by way of fee income from attracting investors to the funds, but
mainly from its on-going management.
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McMahon Clarke Legal has expertise in establishing
and advising on the management of a property fund, including unlisted
property trusts, or syndicates, and listed property trusts.
We are specialists in this area, and deliver extra
value to you for these reasons:
- There are several consultants involved
in putting together a property fund offering, and we are able to coordinate
the input of the other advisers and suppliers such as printers and
publishers.
- Given our active involvement in the
industry, we are able to provide up-to-date market information, which
can be critical in your approach to the structure, distribution and
management of the fund.
- Our knowledge bank and systems mean
we are able to work to very tight deadlines as timing is almost always
critical when planning fund raising activities.
- The partners in the firm have hands-on
experience as directors of funds management businesses and therefore
are very familiar with the practical issues which you face in day-to-day
business.
- There may be no need for you to comply
with all the technicalities of the fund raising provisions in the
law. There are many legitimate exemptions which may be available to
you, and if so, then the time and cost savings available to you could
be significant.
- Planning the establishment and launch
of the fund is vital and to ensure you know what steps are required
in the order in which they need to be taken, we will provide you with
a project management chart detailing the key delivery dates for those
important steps.
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McMahon Clarke Legal has been appointed as a
sponsor of the Australia Pacific Exchange Limited (APX), an Australian
based stock exchange.
The APX provides listees access to capital,
enhanced creditability and a platform for strategic growth and comprises
three separate boards—a property board, a hybrids & debt board and an
equity board.
McMahon Clarke Legal is the first law firm to be
appointed as an APX sponsor. As an APX sponsor, McMahon Clarke Legal is
able to guide and assist listees, both before and after listing, in
respect of their relationship with APX and the market.
For further information, please contact
Langton Clarke.
APX home page:
www.apx.com.au |
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Next step
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If you would like to talk to us about establishing
a new property fund, then contact
Andrew
Shearer-Smith. |
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Property funds
McMahon Clarke lodged the first property syndicate in Australia under the
Managed Investments Act 1998, which began on 1 July 1998. This was
the Montpelier Road Commercial Centre syndicate.
Since then McMahon Clarke
has taken a lead role in providing legal advice for property syndicate
promoters from the establishment phase through to management and
administration of property funds management vehicles.
Here are some of the property-related offers we have advised on since
commencement of the Managed Investments Act 1998.
Click here
to see a list of property funds.
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Other managed funds
McMahon Clarke was the first to register an offer document for a strata investment
in Australia after the commencement of the Managed Investments Act
1998 on 1 July 1998.
Since then we have lodged several offer documents and obtained a number of
exemptions from the Australian Securities and Investments Commission.
Our work in this area includes the following:
Management rights schemes
- Cable Beach Sanctuary, Broome
- 12 Victoria Street, Perth (exemption, no licence required)
- Byron's Beachcomber Resort, Byron Bay (exempt under PF187)
- Bayswater Village, Kings Cross (exempt under PF 187)
- Pacific International Resort, Bowral, NSW
Offers which do not need disclosure
- Berri Site Syndicate, Bulimba, Qld
- Forest Ridge Residential Estate Joint Venture, Qld
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Contact
Andrew Shearer-Smith |
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