Benlee Property Trusts and Stronghold Investment Management have formed an alliance to jointly manage a new $20 million commercial property trust.
The Benlee Stronghold Property Trust No.9 will be formed to acquire three assets – two adjoining retail and commercial properties in Bardon, QLD, and a refurbished commercial office building in Brisbane Technology Park at Eight Mile Plains.
The projected cash return on funds invested is anticipated to be approximately 9.4 per cent per annum, according to a statement released this week.
Speaking generally, Stronghold’s executive director Steve de Nys said the trust suits a strategy in which investors are not planning on accessing their capital “at a moment’s notice”.
He also noted those investors need to qualify as wholesale investors, and that interest so far has been “quite strong”.
“We do expect that it will be fully subscribed,” he said.
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