This article is from the Australian Property Journal archive
QUEENSLAND property and funds management group CFMG Capital has passed $100 million in funds under management, with its recently launched private credit fund notching more than $20 million of inflows in less than three months.
The company is on track to reach its target of raising $50 million in new capital by the end of the year to invest in pooled mortgages across its portfolio of more than a dozen land development projects in south-east Queensland and Victoria.
The CFMG Capital Monthly Income Fund was launched in April.
CFMG Capital has a total pipeline of more than 2,200 homesites.
CFMG Capital Group general manager Andrew Thomson said the strong inflows across the company’s major funds reflected increased optimism in the south-east Queensland land market and CFMG Capital’s strong track record.
“We have a strategic pipeline of projects to be delivered over the next few years, and the support of our investors is critical to ensuring we have a diversified mix of funding to support the rollout,” he said.
Investors range from small retail investors to larger self-managed super fund and institutional investors, which is an indication of the depth of interest.
“We are experiencing high levels of enquiry across all of our active projects with buyers moving quickly to lock in homesites as they come to market,” he said.
“Population growth remains strong and supply constraints are persisting. We expect these conditions to continue for at least the rest of 2024 and into next year.”
CFMG Capital operates two core divisions – its residential communities development business, and a funds management business that has raised more than $250 million in third-party equity.
The MIF is open to investments from $5,000. MIF distributions are paid monthly and will commence at a targeted rate of 8.25%.
