Media release

18 July 2016

Propertylink, an internally managed real estate group that owns a diversified portfolio of industrial and logistics properties and a leading investment and asset management business, today lodged with the Australian Securities and Investments Commission (ASIC) a Prospectus/Product Disclosure Statement in respect of its initial public offering of stapled securities and listing on the Australian Securities Exchange (ASX) (IPO or Offer).

The Offer to institutional and eligible retail investors is expected to be priced following a bookbuilding exercise within a range providing a pro forma forecast distribution yield of 7.3 per cent to 7.8 per cent for the 2017 financial year and is expected to raise approximately A$500 million.

Peter Lancken, Independent Chairman of Propertylink said the Board was pleased to offer the opportunity to invest in a real estate group specialising in industrial and logistics assets, with a growing investment and asset management business.

“Propertylink is the only Australia-focused, internally managed industrial and logistics group with an integrated investment and asset management platform. The group has over A$1.55 billion of Australian assets under management and a track record of performance. Propertylink’s historical performance has created an international reputation and profile which continues to attract leading global investors, and new mandates, and to drive growth in assets under management.

“Propertylink is well-positioned to achieve its objective of delivering superior risk-adjusted returns for our investors. We are pleased to bring Propertylink to the ASX with a clear point of difference in the Australian listed property sector, offering an attractive growth profile,” Mr Lancken said.

Propertylink owns a portfolio of quality industrial and logistics properties independently valued at A$684.95 million (as at 30 June 2016), with over 80 per cent of the portfolio located in the core Sydney and Melbourne markets. Propertylink also manages nine external funds and investment mandates on behalf of institutional investors. The firm has relationships with global investors including partners in North America, Europe, Middle East, Asia and Australia.

Propertylink has a highly experienced management team and majority independent Board with an average of over 20 years’ experience. Propertylink’s integrated, in-house approach to active asset management is aimed at maximising performance and value of assets under management.

Stuart Dawes, CEO of Propertylink said: “Propertylink’s active management approach to its balance sheet portfolio over the past 12 months has resulted in tenant retention of more than 63 per cent across its balance sheet portfolio and more than 83 per cent inclusive of all mandates. We also offer an established and rapidly growing investment and asset management business and are well positioned for further growth in that business.

“We are excited about the IPO, welcoming new shareholders and realising the opportunities an ASX listing presents to Propertylink,” Mr Dawes said.

Credit Suisse (Australia) Limited, Goldman Sachs Australia Pty Ltd and J.P. Morgan Australia Limited are the Joint Lead Managers to the Offer. Baillieu Holst Ltd, Commonwealth Securities Limited and Ord Minnett Limited are the Co-Managers to the Offer.

The Offer will be made by Propertylink (Holdings) Limited, Propertylink Investment Management Limited as responsible entity of Propertylink Trust and a Propertylink Australian Industrial Partnership and Propertylink Saleco Limited pursuant to the Prospectus and Product Disclosure Statement lodged with ASIC on 18 July 2016. Anyone considering investing in the offer should read the Prospectus carefully and in its entirety before deciding whether to apply for Securities. The Prospectus is available in electronic format at http://www.propertylinkinvestors.com.au.

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