The Merkin Group expands Industrial Property Trust and leads and syndicates two more acquisitions in SEQ
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In October 2020 The Merkin Group co founded the IRC Unit Trust and as the major unit holder syndicated other investors and arranged the financing for the acquisition of 3,131 m2 of combined office, retail and bulk warehouse premises on 6,883 m2 at 283-295 Thompson Rd North Geelong.
Acting as Asset Manager, Investment Manager and Property Manager Merkin Advisory Pty Ltd have completed two more similar strategic acquisitions on The Sunshine Coast in SE Queensland . The major unit holder on both acquisitions, Merkin Advisory has also originated both properties , led due diligence, raised equity from certificated wholesale, exempt, sophisticated and professional investors, negotiated the facilities from a leading Australian lending institution, and negotiated and put in place 20 year leases on both properties subject to Settlement.
Owing to confidentiality issues further details will be announced post Settlement prior to end of CY2021.
The growing portfolio, with a combined asset value in the low 8 figure range is the catalyst for the division’s business plan in 2022 to return to a licensed entity (AFSL) , (and notwithstanding that no retail offerings will be made) and bringing competencies of both product and distribution back in house to provide the platform to grow the property portfolio back to the scale of The Group’s property holdings in the 1990 – 2010 with the financial services adjunct making for a vertically integrated model.