This article is from the Australian Property Journal archive
TRINITY Group has sold its 38.5% stake in the Trinity Enhanced Return Fund for $5.87 million.
The unitholding has been purchased by the Trinity Property Trust and an institutional investor unrelated to the Trinity Group.
The Trinity Property Trust is acquiring approximately 95% (i.e. circa $5.55 million) of the Trinity Stapled Trust’s unitholding and the institutional investor is acquiring the remaining units valued at approximately $0.32 million.
Upon completion of the sale, the Trinity Property Trust will have a 75% interest in TERF and the institutional investor will hold the remaining 25%.
TERF is an unlisted property fund which, indirectly through a wholly owned trust, owns the AM60 property situated at 60 Albert Street, Brisbane, Queensland. The trustee of TERF is now TPTAS AM60 Pty Ltd, an entity owned by the Trinity Property Trust (75%) and the institutional investor (25%), having today replaced Trinity Funds Management Limited, a wholly owned subsidiary of Trinity Group, as trustee.
Australian Property Journal
