This article is from the Australian Property Journal archive
The Qualitas Real Estate Income Fund has raised $218 million via an offer and placement, which received strong investor support.
The entitlement and shortfall offer raised approximately $151 million at an offer price of $1.60 per new unit. This included the issuance of 94.4 million new units, comprising 37.6 million under the entitlement offer and 56.8 million under the shortfall offer.
Additionally, the placement secured binding commitments for approximately 41.8 million new units at the same price, raising $66.9 million.
Head of income credit Mark Power said the capital raising was oversubscribed and received extremely positive response.
“Since QRI’s inception over six years ago, the fund has consistently delivered on its investment objectives – providing regular monthly income, portfolio diversification, and capital preservation, with no interest arrears or impairments on any loans.
“Underpinning this is our transparent and institutional approach to governance, conflicts and disciplined investment underwriting. As the market dynamics increasingly align for real estate private credit in Australia, we believe the fund is well positioned to continue to deliver attractive risk-adjusted returns for investors,” he added.
Funds raised will be invested in commercial real estate credit investments, aligning with the trust’s mandate. Unitholders will also benefit from reduced operating costs per unit and increased trading liquidity due to the trust’s larger size.
New units issued will rank pari passu to existing units.
