Defence Housing Australia (DHA) has today announced the launch of DHA Investment Management Limited (DHA IML), and its first residential property fund.
The DHA Residential Property Fund No. 1, an exclusive partnership with Centric Wealth, aims to provide investors stable income streams combined with the potential for capital growth over the medium-to longer-term through exposure to a diversified portfolio of Australian residential property.
“The DHA Residential Property Fund No. 1 is a new approach to buying DHA properties,” DHA Managing Director Peter Howman said.
“For a number of years we have wanted to diversify our funding source beyond our very successful Sale and Leaseback (SLB) program. This Fund allows us to do this, while also providing more options to those that want to invest with DHA.”
The Fund is seeking to raise $50 million. Units are available via Centric Wealth and it is anticipated demand for units will exceed the objective.
“This is the first time that we have offered properties through a trust structure,” Mr Howman said. “Until now, investors needed to have available funds upwards of $300,000 to take advantage of DHA’s residential property product. The Fund opens this investment opportunity up to wider market, while still providing all the benefits that investing in DHA is renowned for.”
All properties will be centrally managed by DHA, providing security of income and no ongoing property management. They will be sold with long-term leases to be available for Defence members and their families, and will be subject to lease-end restoration services.
“The fund has a targeted investment term of ten years, with distributions paid quarterly,” Mr Howman said.
DHA Investment Management Limited is a wholly-owned subsidiary of DHA and has been granted an Australian Financial Services License by the Australian Securities and Investments Commission.
To find out more about investing in the Fund contact Centric Wealth.
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