Property Fund 1
ADPF1 is a diversified opportunistic real estate fund which has a sufficiently broad mandate to provide flexibility to target a 10-12% IRR for investors over the fund life.
The current investments in ADPF1 are forecast to achieve a circa 17% gross IRR.
The fund can invest across most asset classes and at present Residential, Industrial, Large format retail and Alternative assets (such as childcare, pubs and service stations) are the key targets with the fund taking a more active role to generate higher returns.
ADPF1 is currently closed for new investment as existing funds are being deployed into new investments.
It is expected that the fund will reopen for new equity subscriptions in Q2 2022.
The fund has already secured $283m of commitments and will continue to raise over the next 12 months to reach the target of $350m.
Target investments are around the $20 – 30m equity ticket size each which is a market slightly above private investors and below institutional radar.
The fund is drawn 70% so the majority of investors funds are put to work immediately.
The fund will pay an annual distribution of 5-6% pa from the 2022 financial year.
Alignment with the manager AFM is very high by industry standards usually around 5% in the case of ADPF1 it will not be less than 25%.
The fund term is 5 years from the latest end of the investment period.
Investment period is 3 years from the final close (latest being Sept 2025).
Liquidity, 10% of the fund value may be redeemed yearly from 2 years after the latest end of the investment period.
Full details of the fund offer and investments to date are included in the latest Information Memorandum which is available upon request to eligible wholesale investors.