This article is from the Australian Property Journal archive
MIRVAC has exercised its option to buy the remaining 50% in specialist real estate fund manager Property Funds Australia.
PFA is the responsible entity of the PFA Diversified Property Trust, a Bendigo Stock Exchange listed trust which owns a portfolio of Australian investment grade assets currently valued at $687 million.
Mirvac acquired the initial 50% interest in PFA in August 2004.
Mirvac’s chief executive of funds management Grant Hodgetts said the division manages approximately $13.3 billion of internal and external funds management activities on behalf of institutional and retail investors.
PFA’s former managing director Chris Morton said Mirvac has had an intimate involvement in the trust and its portfolio for the past three years.
“I am confident that unitholders’ interests will continue to be a priority under Mirvac’s stewardship,” he concluded.
Australian Property Journal
