Dexus today announced Mercer Alternatives has committed $100m to the Dexus Real Estate Partnership 1, a high risk, high return opportunistic Fund.
Mercer Alternatives is a division of Mercer, one of the world’s largest investment consultants, with $380 billion USD under management. The commitment increases DREP1’s total equity capital commitments to circa $265 million.
Deborah Coakley, Executive General Manager, Funds Management said: “We are pleased to welcome such a highly regarded institutional investor into DREP1, Dexus’s real estate opportunities fund.
“This investment strengthens DREP1’s investment capacity, enabling the Fund to advance its strategy of providing wholesale investors with an enhanced return via exposure to investments in property repositioning, development and credit opportunities.
“In addition to leveraging Dexus’s integrated platform, we have strengthened our in-house capability with a specialist team of investment professionals with expertise in driving enhanced returns from opportunistic investing.”
Mercer Alternative’s commitment follows the announcement in November 2021 that DREP1 had secured its first three investments, including an office development in Richmond, Victoria; an industrial development at 149 Orchard Road, Chester Hill, NSW in 50/50 co-investment with Dexus; and a circa $70 million senior construction finance facility in 50/50 co-investment with Solido Capital.
Related Articles
