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CROMWELL PROPERTY GROUP — Major Shareholding Notification 2017
Oct 3, 2017
64673_rns_2017-10-03_5ddcb503-6129-444d-8b9a-70aeac04d0fe.pdf
Major Shareholding Notification
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Investa Office Fund (ASX:IOF)
Investa Property Group acquires securities in Investa Office Fund
Investa Listed Funds Management Limited ( ILFML ) as responsible entity of Investa Office Fund ( IOF ) advises that Investa Property Group ( Investa ) has announced today that it has acquired 59.3 million securities in IOF, representing 9.89% of IOF’s issued securities, from Cromwell Property Group.
A copy of the media release issued by Investa is attached.
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About Investa Office Fund
Investa Office Fund (ASX code: IOF) is an externally managed Australian listed real estate investment trust, included in the S&P/ASX 100 index. IOF is governed by the Independent Board of Investa Listed Funds Management Limited as responsible entity, and managed by Investa – one of Australia’s largest and most highly regarded office managers. IOF has total assets under management of $3.8 billion, with 20 investment grade office buildings in core CBD markets across Australia. The Fund receives rental income from more than 400 tenants, including government agencies and blue chip organisations. IOF’s strategy is to deliver attractive risk-adjusted returns investing in high quality Australian office buildings, leveraging Investa’s fully integrated specialist property sector capabilities to outperform.
Fund Enquiries
Media Enquiries
Penny Ransom Michael Scott Fund Manager Investor Relations Manager Investa Office Fund Investa Office Fund T +61 2 8226 9405 T +61 2 8226 9313 M +61 434 561 592 M +61 452 383 821 [email protected] [email protected]
Emily Lee-Waldao General Manager, Marketing & Communications T +61 2 8226 9378 M +61 416 022 711 [email protected]
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Investa Property Group further increases alignment with IOF securityholders
Investa Property Group ( Investa ) today announces that it has acquired 59.3 million securities in Investa Office Fund ( IOF ), representing 9.89% of IOF’s issued securities, from Cromwell Property Group ( Cromwell ) for $4.65 per security. The stake was acquired as part of a full sell down by Cromwell of its 60.4 million holding in IOF.
The $276 million purchase increases Investa Property Group’s co-investment stake in IOF to 19.95% and reflects Investa’s ongoing belief in the quality of IOF's portfolio.
Jonathan Callaghan, CEO of Investa, said “The acquisition further re-enforces the alignment between Investa and IOF securityholders. This acquisition is a demonstration of Investa’s commitment to IOF and its ongoing strong performance. Investa is proud of the performance of IOF under its management, where IOF has consistently outperformed the S&P/ASX200 A-REIT Index and its peers, and we look forward to continuing to deliver strong performance for IOF securityholders".
“IOF owns a high quality commercial office portfolio with very high exposure to the outperforming Sydney and Melbourne markets, as well as exposure to the improving Brisbane market. We consider IOF an attractive investment opportunity for ICPF unitholders” said Mr Callaghan. End
For more information
Emily Lee-Waldao Jonathan Callaghan General Manager, Marketing Chief Executive Officer & Communications T +61 2 8226 9378 T +61 2 8226 9300 M +61 416 022 711 [email protected] [email protected]
About Investa Commercial Property Fund (ICPF)
ICPF is a core prime office fund for institutional investors which aims to optimise total returns with a low-risk investment approach, concentrating on Premium-grade office assets in the major Australian CBD markets. With more than $4.5 billion in assets under management, ICPF is well-diversified by market, tenant and industry type, with an active capital management approach and a conservative gearing profile. The fund’s portfolio of 14 assets includes interests in some of Australia’s leading office buildings, including Deutsche Bank Place at 126 Phillip Street, Sydney, 420 George Street, Sydney and 120 Collins Street, Melbourne.
About Investa
Investa is a leading Australian real estate company managing more than A$10 billion of quality office real estate. As a specialist office manager of commercial office buildings Investa manages more than 40 assets in the key Australian CBD markets on behalf of ICPF, the ASX-listed Investa Office Fund (IOF) and private mandates. Its end-to-end real estate platform incorporates funds, asset, property and facilities management, development, sustainability, capital transactions and research. Investa strives to be the first choice in Australian office, by delivering consistent outperformance for its investors and exceeding the expectations of its tenants and staff, while remaining an industry leader in sustainable building management and responsible property investment.
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