Dexus has seeded an initial investment of A$100m (鈧�61m) in the first of a series of closed-ended opportunity funds that will invest in value-add, development and special situation real estate opportunities in Australia.
Deborah Coakley, Dexus executive general manager, funds management, said the Dexus Real Estate Partnership 1 fund 鈥渨ill capitalise on emerging pockets of opportunities where we can leverage Dexus鈥檚 large-scale platform of transactions expertise, active asset management and development capability鈥�.
鈥淒exus is the first investor in the fund. We are seeking both domestic and offshore investors in the fund,鈥� Coakley told 麻豆映画 Real Assets.
Coakley said the unlisted fund would only invest in Australian property, but would not be sector-specific.
鈥淚t will look to build a portfolio of assets across a number of sectors and across the capital stack,鈥� she said.
She declined to comment on the envisaged size of the first fund.
Asked about ongoing co-investment in new funds in the series, she said: 鈥淒exus will assess its commitment to future funds as these opportunities arise.鈥�
Jason Howes has been appointed fund manager of the close-ended opportunity fund.
To read the digital edition of the latest 麻豆映画 Real Assets magazine click
