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Charter Hall’s Direct property business has been awarded the Best Commercial Property Fund Manager by SMSF members at the prestigious CoreData Self-Managed Super Fund (SMSF) Service Provider Awards.
The SMSF Awards are designed to recognise the best service providers as rated by SMSF trustees and SMSF-advising financial planners and accountants.
Andrew Inwood, Principal of CoreData said: “Charter Hall is a consistent performer that has been singled out by SMSF trustees for their distributions and returns.”
Head of Charter Hall Direct, Richard Stacker, attributed the award to Charter Hall’s rigorous approach to property investing, strong track record of performance and the quality of product that the Charter Hall Direct business has consistently delivered to investors.
“We are delighted to receive the recognition associated with this award. Our capabilities to access, deploy, manage and invest capital means that we are able to create industry leading property investment funds that provide our investors with stable income streams.
“The Direct business has a strong track record of identifying new high quality investment products that offer investors access to long leased assets with strong tenant covenants in growing markets. With a strategy to co-invest in the funds we create, our interests are aligned with our partners".
Avi Anger, Charter Hall’s Head of Transactions, said: “The Group’s focus on partnering with high calibre tenants that enjoy strong market share within their sector is opening up opportunities to work with them to meet their property needs. The market continues to become extremely competitive for long weighted average lease expiry (WALE) investment assets, particularly leased to blue chip tenants. Our ability to complete off-market transactions demonstrates the capabilities of our business to create value for our business partners and investors.”
The Direct Property business has established and launched a number of new investment opportunities including the Direct Office Fund (DOF), the Direct Industrial Fund No.3 (DIF3) and recently the Direct Automotive Trust (DAT).
DAT is raising $55 million to acquire three automotive assets with 100% occupancy, a WALE of 13 years and income generated from leases to Automotive Holdings Group Limited, a leading ASX 200 business.
Fund Manager, Steven Bennett said the CoreData award demonstrates the strength of Charter Hall’s team to actively manage its portfolio to deliver superior returns to investors.
“We take an active management approach to all of our assets to ensure that we maximise the properties value to deliver superior returns to our investors. For example, DOF, which is currently open to new investors, recently sold a property at St Leonards in Sydney for $150 million, following a successful rezoning of the site. The sale price was significantly above book value and delivered a fantastic financial outcome for DOF investors".
The Direct Property business has delivered attractive returns for investors and has been very active over the past five years. The latest IPD benchmark results showed Charter Hall’s unlisted retail funds and syndicates held five out of the top 10 positions for performance in the 12 months to 30 June 2015.
“With the cash rate currently sitting at 2.0%, three year term deposits at 2.8% and the ASX 200 Dividend Yield at 4.5%, interest in direct property, which is providing a starting yield to investors of above 7.0% for high quality assets with moderate gearing, is proving to be a popular option,” Mr Bennett added.