ACQUISITION | We are pleased to confirm our third acquisition of the year with the successful settlement of two fully leased assets in Burnie, Tasmania for $11.75 million. Strategically located in the CBD, with proximity to the core retail precinct and Port of Burnie (Tasmania’s largest general cargo port), the properties boast a strong tenant mix including the Tasmanian Government, Australian Electoral Commission, ACM, Zap Fitness 24/7 and Vie Finance & Insurance. The acquisition represents a 10.24% yield based on fully leased net income and is projected to deliver an annualised distribution of 10.00% p.a. paid monthly to wholesale investors. This brings Arcana’s total acquisitions to over $270 million! We would like to thank the following people who have been crucial with finalising this transaction: - Matt Castley, Natalie Humzy-Hancock and Zachary Denovan (Colin Biggers & Paisley) for legal guidance and due diligence work; - Jess Milne, Gabi Forrest and Andrew Niven (Nivcorp Property Finance) and Giuseppe Guardala (St.George Bank) for organising finance; and - David Webster (Elders Tasmania) for assistance throughout the deal. #CommercialProperty #Investment #Tasmania #Acquisition #FundsManagement #WholesaleInvestor #RealEstate #ArcanaCapital
Cracker asset, well done team!
Congrats!
Partner at Burgess Rawson
3moWell done gents, great to work with you Nicholas Sinclair and Zomart He