APN Property Group has successfully closed its APN Nowra Property Fund, which will be seeded with a retail asset at 198 Princes Highway in South Nowra leased to the Home Consortium Group.
The lease has just under 13 years remaining and has a guarantee from Woolworths Limited.
The fund, which launched in June, is forecast to provide a starting equity distribution yield of 7.80% per annum to 30 June 2019.
“We are continuing to see good levels of demand from a wide range of investors looking for well leased commercial properties offering strong and reliable cash income yields financed with appropriate levels of debt,” Tim Slattery, APN’s chief executive officer said.
Australian Property Journal
