THE joint venture between CVC Limited and Trinity to manage the CVC Trinity Property Fund has been terminated.
CJT’s chairman Geoffrey Leaver said the decision to terminate the relationship was reached amicably and will enable both organisations to concentrate their full efforts on their individual businesses.
In light of the separation, both have resigned from the CJT board of directors while the name of the fund is proposed to be changed in due course.
CVC Limited is currently in discussions with several other groups in regard to jointly managing the fund and formulating a strategy to acquire further assets.
CVC Trinity Property Fund’s asset portfolio includes a commercial property in Frenchs Forest Sydney, the Ricoh building, and a cornerstone $15 million investment in the 14,000 sqm Lifestyle Retail development site at Belrose, Sydney, which has an end value of approximately $55 million.
Australian Property Journal
