The APIL Essential Retail Income Fund is our third multi property investment fund. The aim of the Fund is to acquire multiple properties to a portfolio target size of $100.0m.
The Fund intends to acquire property from multiple Australian cities, providing diversification by geographic location and exposure to alternate property markets. APIL’s investment strategy is to acquire properties with high tenant appeal where in the event of vacancy, it is likely to be re-tenanted within a normal market period.
The Fund’s first asset, Woolworths Coolbellup Village Shopping Centre, is a strategically located neighbourhood shopping centre in Perth’s south metropolitan area and in close proximity to Fremantle. The recently constructed centre is anchored by Woolworths on a 15 year lease with six additional tenants including a pharmacy, fast food options and personal grooming services.
The Fund is in the process of identifying suitable acquisitions and will be open again for investment shortly.