Industrial REIT to raise $179m
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter verification code' }}
{{ completedStep1 ? 'Start your free 15 day trial now' : content.trialHeading.replace('{0}', user.FirstName) }}
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Verify your email address by clicking on the link we sent to {{user.Email}}
- You now have free access, we look forward to helping you on your financial journey.
The underwriting of Allan Fife’s $179 million initial public offering of the Australian Industrial REIT has been brought forward after robust demand by a number of domestic institutional investors made pricing on Wednesday all but certain.
The IPO of eight warehouses, seven in Sydney and one in Melbourne, is priced at a 3.5 per cent premium to net asset value. It is scheduled to yield 8.25 per cent.
Bankers and the REIT met with investors in Singapore on Friday and were due to meet fund managers on Monday in Hong Kong. A typhoon forced them to fly back to Australia on the weekend to conduct a video conference call with asset managers on Monday.
Allan Fife wants to build a strong institutional investor base for the REIT, both in Australia and overseas.
Fife, a former Grant Samuel merchant banker, founded Fife Capital in 2006 as an independent real estate and advisory firm. He helped make money for a number of superannuation funds even after the collapse of Lehman Brothers Holdings Inc. roiled global markets.
UBS, CommSec, the securities unit of Commonwealth Bank of Australia, and National Australia Bank Ltd have found that investor demand for Australian Industrial REIT has been robust because of its high yield, low risk and uncomplicated structure.
In contrast, two other REITs that have failed to price in the market, Centuria and Pacific Retail, had either one single asset in the case of Centuria or a complicated structure with too many costs, in the case of Pacific Retail.
Australian Industrial REIT is Fife Capital’s first IPO. It is scheduled to begin trading on the ASX between October 21 and 23.
Call 1300 880 160
Start a chat
Schedule a call
