IFM, ISPT form global unlisted real estate JV

26 April 2018
| By Nicholas Grove |
image
image
expand image

IFM Investors and Industry Super Property Trust (ISPT) have set up a new joint venture, International Property Funds Management (IPFM), that will specialise exclusively on managing international unlisted real estate on behalf of institutional investors.

IPFM CEO Tony McCormack said the 50/50 joint venture, which would formally launch in the third quarter of 2018, would initially provide Australian institutions with competitive risk-adjusted returns, driven by the “investor first” culture of its foundation partners.

“IPFM will provide institutional investors with a unique pathway into offshore real estate, premised on best-of-breed transaction execution and asset management, as well as a highly competitive fee model to ensure maximum benefits are passed back to investors,” McCormack said.

“IFM Investors and ISPT, each distinguished by an investor-owned structure and long-term investment approach, bring natural benefits to IPFM including an ability to leverage IFM Investors’ established global reach and ISPT’s property investment and asset management expertise.”

Initially, IPFM would target diversified property investments with a focus on core, income-producing assets. It would directly pursue both on-market and off-market opportunities, tapping into a large network of local market relationships across a focused short-list of target markets.

The IPFM team, led by McCormack, was currently establishing its first investment strategy, which would be a diversified pooled fund that would initially focus on core properties in pan-European gateway cities.

Read more about:

AUTHOR

Add new comment

The content of this field is kept private and will not be shown publicly.
sidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

2 months 1 week ago
Kevin Gorman

Super director remuneration ...

2 months 2 weeks ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

2 months 2 weeks ago

A healthy lifestyle doesn’t have to be a question of all or nothing. If you can take small, consistent steps to improve your wellbeing, then you’re on the right track. It...

1 day 3 hours ago

The $24 billion fund is now providing full-time super guarantees for part-time employees rejoining the workforce. ...

2 days 17 hours hence

New research by the Financial Services Council reveals Australians largely agree with the government’s proposed wording for the objective of superannuation towards retire...

1 day 15 hours hence