20 May 2019

    REIT: Extra! Extra!

    Jamie Hannah, Vice President – Investments & Capital Markets

    REIT all about it! There is an abundance of listed real estate investment opportunities beyond Australian shores. Australian REITs comprise just 3% of a total of ~$1.8 trillion in listed real estate assets – by just investing locally you are missing out on the likes of Vonovia (Germany’s largest residential property developer) and Prologis (the largest industrial REIT in the world).


    23 April 2019

    MVA: No second tax shock for A-REIT investors

    by Jamie Hannah, Vice President – Investments & Capital Markets

    When Unibail-Rodamco took over Westfield Australian investors were surprised that they would be hit with a French 0.3% transaction tax on any new purchases of Unibail shares on ASX.  Things have gotten worse.  

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    31 May 2018

    Au revoir Westfield

    by Jamie Hannah, Vice President

    With Unibail-Rodamco’s $32 billion takeover complete, Westfield security holders will shortly receive a combination of cash and stapled securities in the new French-owned group

    As the new securities are not shares in an A-REIT, but CDIs (CHESS Depository Interests) in a foreign entity, they will have different tax and performance characteristics compared to A-REIT securities.

    Investors looking to maintain diversified A-REIT exposure for income, without over-exposure to the retail sector should consider MVA.

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    26 June 2014

    May the Force be with you

    by Brad Livingstone-Foggo, Head of Marketing - Australia

    In 1959 two Hungarian immigrants pioneered retail shopping in Australia. Frank Lowy, a small goods retailer and John Saunders, a one-time milk bar owner, raised capital to construct a shopping centre at Blacktown in the western suburbs of Sydney. It was a huge risk but ultimately they raised enough money to create Westfield Investments Pty Ltd...

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    15 November 2013

    Property Securities: the forgotten yield play

    by Russel Chesler, Director, Investments & Portfolio Strategy

    Listed Property Trusts (LPTs), as we used to call them, were in portfolios because of their low correlation with the growth assets. While we expected the growth assets to go up in the long term we were aware that the short term could be very volatile. These property assets were expected to stay in a narrower range while delivering a stable stream of income...

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