Eg Funds Management

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Australian real estate fund manager EG announced the establishment of its new private wealth division.
The data-driven investment manager’s new division, headed by director Rodney Walt, will supply commercial property syndication opportunities for investors and family offices.
“We are pleased to officially offer this new service to sophisticated investors interested in commercial real estate, providing them with the opportunity for future growth in the current economy,” Walt said.
A proprietary risk management software, PRISMS, will be used to identify the opportunities, consider the risk and match the deal to investors.
Investors can expect to benefit from high income returns supported by a long-term lease, and to receive an average distribution of 8.5 per cent per annum based on a 7-year hold strategy.
The company, which is targeting a minimum $150 million in gross asset value over the next 12 months, also conducted an announcement to sophisticated investors for a specific opportunity today.
EG is targeting crash distributions of 8.5 per cent per annum in real estate.
Investors are asked to participate in commercial real estate opportunities offering high-yielding secure investments.
The company calculates an equity internal-rate-of-return forecast at 11 per cent, with opportunities of a 15-year lease term to a global tenant.
EG has over $3.2 billion in assets under management, with two decades experience in institutional mandates.
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Funds manager EG announces new private wealth division 

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Real estate fund manager EG Funds Management has secured the off-market sale of two commercial assets in Kensington, Melbourne.
The combined 15,725sqm site area was sold for $30.25 million.
The Young Husband Wool Stores sites were acquired in two tranches by EG Funds Management in 2007 and 2011 for AU$8.9 million and $5.5 million respectively.
The sites underwent a successful rezoning in 2015 from IN1 and IN3 (Industrial) to Commercial 2 zoning.
The strong market appetite for well-located assets delivering passing yield while allowing future land use change potential has also benefited these sites, said EG's Daniel Farley.
EG purchased the two assets for the Yield Plus Infrastructure Fund No. 1, which was launched in 2006 to acquire assets near new or upgraded infrastructure.
The fund is on track to achieve 13.0% p.a. Equity IRR.
The transaction was concluded through Ben Hegerty and Chris Jones from Savills.
Impact Investment Group, a Melbourne-based syndicator backed by the wealthy Liberman family, bought the converted warehouse on a yield of around 5 per cent, but with considerable rental upside.
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