Meeting raises greater than $ 100 million for Australian actual property fund

Meeting Funds Administration (AFM) has raised greater than AU $ 150 million (US $ 102.four million) within the first closing of its first fund, ADPF1, which can put money into actual property and capital debt in Australia and New Zealand.

AFM plans to boost one other 150 million Australian {dollars} over the subsequent two years from household places of work and high-equity institutional traders, each in Australia and overseas, the corporate mentioned in a press release.

Lowy Household Group is a elementary investor within the preliminary fund, in addition to an AFM shareholder together with the CEO and founding father of AFM, Michael Gutman, and the Alceon actual property funding group.

"This will probably be an vital partnership for us to take part in actual property funding alternatives in Australia and New Zealand sooner or later and, in fact, we now have nice
assured that Michael has been colleagues in Westfield for 25 years, "mentioned Steven Lowy,
Director of Lowy Household Group.

Michael Gutman was not too long ago director of the principle board of Westfield Company and
President and director of world operations till the sale of June 2018 to Unibail-Rodamco.

The fund goals at A $ 300 million in complete capital, offering ADPF1 with roughly AU $ 450 million in funding firepower.

It should put money into value-added alternatives, capital positive aspects and senior and junior actual property debt in residential, industrial, business, leisure and retail asset courses.

AFM has already recognized a number of funding alternatives for ADPF1 and can search to accomplice with trade companions in every market to extend the portfolio.

AFM has employed Tim Meurer as head of transactions, who joins Invesco, the place he was head of acquisitions in Australia and New Zealand.

"AFM gives the chance to assemble my expertise and bought relationships
globally and regionally over the previous 40 years to supply optimistic outcomes for our traders, "mentioned Gutman.

Alceon's managing director, Trevor Loewensohn, mentioned Alceon would offer administrative help, fundraising and channeling alternatives to AFM, after having established a substantial
companies in the actual property and non-bank loans sector lately.

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