Defence Housing Australia (DHA) is celebrating the announcement that its inaugural fund has been awarded the Property Investment Research (PIR) Unlisted Fund of the Year Award.
This award comes on the back of the Centric DHA Residential Property Fund receiving a AA+ rating from the same organisation. It (the Fund) is the the largest residential property fund in Australia and is a partnership with Centric Wealth.
“The fund is a new approach to buying DHA properties,” DHA Managing Director Peter Howman said. “We are very proud that we have been able to secure not only a AA+ rating, but now also an award recognising the unique nature to offer properties via a trust structure.”
“For a number of years we have wanted to diversify our funding source beyond our very successful property investment program. This Fund allows us to do this, while also providing more options to those that want to invest with DHA.”
The award is based on a full review of the fund that highlighted the strengths including the predictable and sustainable income profile, guaranteed occupancy, diversified location and history of DHA’s management of residential property.
“For the first time investors will be able to buy into a geographically diverse residential portfolio of DHA properties in all major Australian capital cities. Integral to the fund is DHA’s property management capabilities backed by a long-term lease.”
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 is very active in the Australian residential property market, with approximately 18,000 properties Australia-wide, worth around $10 billion, and a development pipeline of more than $1 billion DHA maintains a AA+ credit rating (Standard & Poors).