APN's $206m Fund in Talks with 'Global Rival'

Posted by MiniCo on Aug 14, 2013 12:00:00 AM

APN's $206m Fund in Talks with 'Global Rival'

APN Property Group, an Australia-based real estate fund manager specializing in the Asian markets, could be preparing to make further investments within the Australian self-storage market. APN informed investors that it was currently in negations with a rival global player, which is rumored to be Chicago based  Heitman.

Heitman is thought to have had difficulty in finding capital from overseas investors, despite investors like CDPQ (Caisse de depot et placement du Quebec), which manages the public pension funds in the Canadian province, eyeing the opportunity. APN told investors that the new party was offering terms that were equal to, or better than those previously negotiated. Heads of agreement were being drafted, and once there was more certainty, the fund was expected to call an investor meeting to approve the deal.

APN operates a $206 million (Australian Dollar rate: $188 million) National Storage Property Trust that invests in 37 storage properties leased to National Storage Property. National Storage and Heitman created a joint venture in 2011 to purchase 20 properties for $175 million from APN Funds Management and the Investec Property Opportunity Fund.

About APN

APN Property Group Limited (“APN”) is a specialist Asia Pacific real estate fund manager that actively manages real estate investment funds on behalf of institutions, superannuation funds and individual investors.

Since 1996, APN has delivered real estate investment solutions for more than 100,000 investors and currently manage over $1.6 billion* of real estate and real estate securities.

Focussing exclusively on real estate over many years provides a depth of understanding which enables APN to deliver value to investors. A deep understanding of commercial real estate together with a highly disciplined investment approach drives the firm’s objectives which are to deliver superior investment performance and outstanding service.

APN’s select team of investment professionals possess vast real estate experience spanning several property cycles. Astute investment decisions are supported by extensive research and valuation processes that have been developed over more than a decade.

Through APN Funds Management Limited, a wholly owned subsidiary of APN Property Group, APN actively manages 18 funds including: domestic and international property securities, direct property, private and listed funds.

APN is listed on the Australian Securities Exchange (ASX Code: APD). We have 53 employees in offices located in Melbourne (Head Office), Singapore and London. For more information, please visit: https://www.apngroup.com.au/

(via The Australian)