Charter Hall Direct Retail Fund

Charter Hall Direct Retail Fund (DRF) closed

Pursuant to the Supplementary Product Disclosure Statement (PDS) dated 16 November 2011, the closing date to raise the Minimum Offer Amount of $15 million for the DRF Offer to proceed was extended to 31 March 2012.  

After careful consideration was given to a further extension of this closing date, the Responsible Entity has determined that effective 20 April 2012 investors will have all of their Ordinary Units redeemed at the prevailing Unit Price and the realised cash proceeds returned to them.  

Download the letter sent to DRF investors regarding changes to their investment.  

Upon redemption, all investors will receive back at least the amount of the application monies paid by them in addition to having received quarterly distribution returns of 8.0 cents per Unit per annum since inception. In addition, Charter Hall is giving the option to continue your property investment with the ability to switch your investment into the highly-rated Charter Hall Direct Industrial Fund (DIF).    

Alternate investment opportunity

Charter Hall appreciates the support shown by investors and will ensure that upon the compulsory redemption, investors are given the option to continue your property investment with Charter Hall with the ability to switch your investment into the highly-rated DIF.  

DIF is an unlisted property fund investing in a diversified portfolio of quality industrial properties located in Australia. The Fund has raised approximately $70 million which has been invested in a portfolio of four industrial properties located in New South Wales, Victoria, Queensland and Western Australia valued as at 31 December 2011 at $114.7 million. DIF provides regular income returns for investors with a current target yield of 8% per annum, based on an entry price of $1 per unit.

 The responsibility entity of DIF, and the issuer of units in DIF, is Charter Hall Direct Property Management Limited. You should read the DIF PDS in full before deciding whether to invest and consult your financial adviser, stockbroker or other professional advisers. Click here to go to DIF's website or read the latest Quarterly Report, 

Key Dates

13 April 2012

Final date to submit DIF Election Form

20 April 2012

Ordinary Units redeemed

On or around 30 April 2012

Investors paid the March 2012 quarterly distribution and either redemption proceeds or units in DIF

For further information please contact Investor Services on 1300 652 790 or contact your financial advisor, stockbroker or other professional adviser.

 

 

This information has been prepared by Charter Hall Direct Property Management Limited ABN 56 073 623 784; AFSL 226849 ("CHDPML") for information purposes only. This website is not an offer to sell or a solicitation or an offer to subscribe or purchase or a recommendation of any securities referred to herein and the information has not taken into account any potential investors' personal objectives, financial situation or needs. Before investing, you should consider your own objectives, financial situation and needs or you should obtain financial, legal and/or taxation advice.

CHDPML does not receive fees in respect of the general financial product advice they may provide, however they will receive fees for operating Charter Hall Direct Retail Fund ("DRF") which, in accordance with DRF's Constitution, are calculated by reference to the value of the assets of DRF. Entities within the Charter Hall Group may also receive fees for managing the assets of, and providing resources to DIR. To contact us, call 1300 652 790 (local call cost).