This article is from the Australian Property Journal archive
GOLD Coast property fund manager OzProp Capital has picked up two logistics assets and a large format retail centre in south east Queensland for a combined $32 million.
Each of the properties are leased to ASX-listed national and international tenants. They include the Top Cut meats cold storage and processing facility, purchased for $13.9 million from Catherine and Robert Carr.
The Smith & Nephew warehousing and distribution facility in Brisbane was acquired for $10.2 million, and a Logan retail property leased to Petbarn and Fernwood Fitness was picked up for $9 million.
In October, OzProp Capital bought the Nick Scali distribution centre in Narangba for $8.975 million, on a net passing yield of 7%.
It is now looking to raise $19.77 million from wholesale investors to partially fund the new acquisitions through the OzProp Diversified Trust, which has 12 assets industrial, office, retail and medical assets.
Forecast distribution yield on the new investments is 7.5%.
