Realside Property has today announced the launch of an Industrial Fund in collaboration with Perth-based executive team, led by Julie Drago, formerly of Western Australia property developer and owner, Hero Properties.
The first fund launched under the entity, Ovest Industrial, is the Ovest Industrial Fund No1 (the Fund). The Fund has secured options to purchase land of $45M and is targeting a total portfolio value of $100M once fully developed. The acquisitions are backed by tenant pre-commitments, secured over the sites, which will be developed by Ovest.
Realside Chief Executive Officer, Mark Vonic said, “The Ovest Fund is an innovative build-to-own model providing sophisticated investors with long-term cash flow and the ability to participate in development upside. The Fund will target tenants in the 3000-10,000 sqm range, in the Perth, WA market.”
“Our partnership with Julie and her highly regarded team is core to the Fund’s formation and emblematic of the type of deals we seek for our investors. Julie, Linda, and Stephen bring a proven track record in industrial development and asset management coupled with Realside’s asset and investment management expertise. Bringing those skills together to form Ovest creates a truly unique vertically integrated industrial development manager, asset manager, and investment manager.”
Mr Vonic continued, “The timing of this launch capitalises on the strong economic conditions in the WA market, driven by the resource sector and significant global infrastructure spend post-COVID, fuelling the growth of business and tenant demand for industrial property.”
Julie Drago said, “We are pleased to be partnering with Realside who share our vision to develop high-quality property in the Perth industrial sector.
We are an experienced development team with established roots in the manufacturing and industrial sectors. We proudly develop Properties with long term ownership in mind and we build long-lasting relationships with Tenants based on service delivery and an acute understanding of their specific requirements”
Mr. Vonic said the primary focus for Realside is the preservation of client capital and ensuring that investor returns are commensurate with the level of risk.
“We provide access to high-quality private market investment opportunities across direct core and value-add property assets, private debt, and structured equity. Ovest is another example of the innovation that we strive for to create interesting investment opportunities for our clients.”
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