Fundraising - OCTOBER 4, 2016

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Elanor Investors launches A$243m Australian retail property fund

by Andrea Waitrovich

Elanor Investors Group has plans to launch its first listed retail property fund, which will target retail properties in Australia. Elanor Retail Property Fund is targeting subregional shopping centers along Australia’s eastern seaboard with a focus on food and discount department store tenants.

ERPF will initially own a portfolio of five retail shopping centers, independently valued at A$243.2 million ($186 million), reflecting a weighted average capitalization rate of 7.7 percent, weighted average lease of 5.1 years and occupancy of 96.7 percent.

The new listed fund is an amalgamation of two unlisted Elanor property funds: Elanor Retail Property Fund I and Elanor Retail Property Fund II.

The portfolio will comprise Auburn Central Shopping center in Auburn, New South Wales; Tweed Mall Shopping center in Tweed Heads, New South Wales; Manning Mall Shopping Center in Taree, New South Wales; Glenorchy Plaza Shopping Center in Glenorchy, T

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