November, 2020
November NAV per share decreased 1.4%
In November, the NAV per share of the Partners Group Global Real Estate Fund (AUD) decreased 1.4%, resulting in annualized performance since in-ception of 5.9% and cumulative performance since inception of 23.0%. While the performance of the underlying portfolio was positive, the overall Fund was impacted by currency movements, due to the appreciation of the AUD. Below we provide an update on two recent distributions to the Fund.
Recently, Partners Group received proceeds from Project Riverside stemming from the realization of a 160-unit garden-style multifamily apartment asset in South Austin, Texas. As of 30 June 2020, the asset accounted for approx-imately 8% of the total portfolio gross asset value. Acquired in 2017, the property is composed of twelve two- and three-story buildings with amen-ities, such as a pool, fitness center and clubhouse. During the holding period, the asset management team implemented capital improvements to building exteriors and common areas. Furthermore, interior renovations were under-taken, including a new paint scheme, modern wood flooring, energy-efficient appliances and water-saving fixtures. As a result of these value-creation initiatives, the asset's net operating income increased by marking rents to market. As of 30 June 2020, the property was approximately 98% occupied.
Additionally, Peakside Real Estate Fund III distributed proceeds from the sale of a 12'200sqm office development in Berlin, Germany. Acquired in September 2018, the property is situated in an established technology, re-search and media submarket of southeast Berlin. The asset was one of the four remaining assets in the fund and accounted for approximately 20% of Peakside Real Estate Fund III's NAV, as of 30 June 2020.
File: https://commentary.quantreports.net/wp-content/uploads/2021/01/20201130_PG_GL_RE_AUD_E_M__Cv.pdfticker: ETL0480AU
release_schedule: Monthly
commentary_block: Array
factsheet_url:
https://www.partnersgroupaustralia.com.au/en/our-funds/global-real-estate-fund/#c9505
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manager_contact_details: Array
asset_class: Property and Infrastructure
asset_category: Unlisted and Direct Property
peer_benchmark: Property - Unlisted and Direct Property Index
broad_market_index: Dvlp Global Real Estate
structure: Managed Fund
- Manager Address : L32, Deutsche Bank Place 126 Phillip Street Sydney, NSW 2000
- Phone : +61 2 8216 1900
- Website : https://www.partnersgroupaustralia.com.au
- Contact Page : https://www.partnersgroupaustralia.com.au/en/contact/