Value Active Fund

Portfolio of 8 office and industrial assets

Property Information

PropertyPortfolio of 8 office and industrial assets
CommencementSeptember 2012
Purchase Price$546.0m
Sale Price$839.0m

Successful implementation of an active strategy.

The Value Active Fund (VAF) was an investment vehicle established in September 2012 by three large Australian institutions (Future Fund, Victoria Funds Management Corporation and Funds SA) to acquire Australian office and industrial properties. VAF pursued an active strategy, acquiring the assets well, implementing targeted strategies to add value and then disposing of each asset with a view to maximising risk-adjusted returns.

Over its investment period, VAF acquired eight properties for a total purchase consideration in excess of $540m and, following the successful implementation of the active strategy, has since sold these properties for over $830m, delivering superior risk-adjusted returns to the investors.

The portfolio comprised of the following properties:
• 140 Arthur Street, North Sydney, a multi-leased, B-grade property located in North Sydney.
• 160 Ann Street, Brisbane, a B-grade office building located in the government and legal precinct of the Brisbane CBD.
• 9 Hunter Street, Sydney, a multi-leased, B-grade property located in the heart of the Sydney CBD.
• 45 Pirie Street, Adelaide, an A-grade office building occupying a prime location in the Adelaide CBD.
• 80 Stirling Street, Perth, a B-grade office asset located on the northern fringe of the Perth CBD.
• 78 Waterloo Road, Macquarie Park, an A-grade office building located in Macquarie Park.
• 7-23 Dunmore Drive, Truganina, a newly constructed, temperature controlled industrial facility located in Truganina, a logistics sub-market to the west of Melbourne that was acquired by VAF under a fund-through, sale and leaseback structure.
• 67 Albert Avenue, Chatswood, a multi-leased, A-grade office building, located in the Chatswood sub-market, 10 kms north of the Sydney CBD.



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