Closed to investment
30 September 2013
We are pleased to announce that the Charter Hall Direct Industrial Fund No.2 (DIF2) has successfully attained the Total Offer Amount of $120 million. This has been achieved with clear support for DIF2 from investors, self managed super funds and their financial advisers over the past 9 months. This milestone has been attained well ahead of the fund’s forecast equity raise period (Final Closing Date) being the earlier of 31 December 2014 or $120 million equity.
This demonstrates the appetite for DIF2’s mandate for a quality industrial property portfolio. DIF2 benefits from an asset base diversified across locations, income secured by long leases, quality tenant covenants and modern industrial facilities with low capital requirements.
Charter Hall’s operations team are finalising applications for the fund and we anticipate communicating with all investors in our September quarterly update.
DIF2 is well positioned to provide investors with solid total returns over the fund's life.
If you would like to discuss other opportunities available please call us on 1300 652 790.
Allotment of the Initial Offer Amount
The responsible entity (RE) is pleased to announce that in relation to the DIF2 Product Disclosure Statement (PDS) dated 17 December 2012, the initial offer amount (being $30.2 million) has been raised, and further interest from potential investors and their financial advisers remains strong. The fund will remain open for investment until the earlier of either 31 December 2014 or the total offer amount of $120 million being raised. Investors will be updated via the fund's website and in quarterly reports as to the progress of the equity raise and about acquisition opportunities.
Limited Offer of Ordinary ‘A’ Units – Now Closed
The RE confirms the conclusion of the limited offer of ordinary ‘A’ units. As per the DIF2 PDS, investors allotted units before the later of the limited offer date (being 31 March 2013) and the initial offer amount ($30.2 million) being allotted, were issued ordinary A units. Investors who are allotted units after this time will receive ordinary units. Now that the limited offer of ordinary A units has concluded, the ordinary A units on issue have the same rights as, and have become, ordinary units.
Update of Unit Pricing
As disclosed in section 2.5 of the PDS, daily income accruals will be included in the unit price from the commencement of the first distribution period following the final allotment of ordinary A units. The effect of this will be that from 1 April 2013 to 31 December 2013 (inclusive), the unit price calculated each day will include an accrued income component. Immediately after the end of a quarterly distribution period, the unit price may fall to reflect the fund's reduced value due to the distribution liability and/or payment.
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 Industrial Fund No.2 (‘DIF2’) which, in accordance with CHDPF's Constitution, are calculated by reference to the value of the assets of DIF2. Entities within the Charter Hall Group may also receive fees for managing the assets of, and providing resources to DIF2. For more detail on fees, see the fund’s product disclosure statement. To contact us, call 1300 652 790 (local call cost).
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DIF4 is the fourth in the highly rated industrial fund series which initially launched in 2010
*Yield based on the forecast FY2018 distribution rate of 6.50 cents per unit. Distributions for future quarters may vary.