PROPERTYLINK Holdings and Echo Capital have merged to become a new company with $778 million in assets under management.
As part of the merger – which is expected to be finalised in early August – Propertylink is seeking to raise up to $12 million from private investors to buy office and industrial properties.
Echo Capital managing director Stephen Day, who founded the property investment company in 2009, said Australia is an attractive destination for offshore capital and in recent months there has been a large increase in the number of transactions in the property sector involving offshore companies.
“We hope to capitalise on several opportunities that are in the pipeline with offshore companies,” he added.
Propertylink independent director Peter Lancken is confident the merger will create new opportunities for the group, leveraging a stronger base to access capital.
Australian Property Journal
