Core Plus Fund No. 1
(CPF No. 1)

Fund Overview
The purpose of the fund is to acquire office, retail and industrial assets with a focus on the Sydney, Melbourne and Brisbane metropolitan regions. Over the investment period, target properties deliver robust underlying cash-flows with limited downside risk.

CPF1 was launched in 2014, with the heritage listed 223 Liverpool Street, Darlinghurst as its seed asset.  The property, in keeping with the Core Plus strategy, provided EG the opportunity to add significant value to the building via an active leasing campaign combined with the submission of a new Development Application to modernise the internal areas in the highly desirable Sydney CBD fringe location.
Fund Term 10 years
Fund Status Closed
Fund Inception Date February 2014
Fund Size $400m

Strategy

The strategy is being realised through the application of capital works, re-letting, active asset management and refurbishment of these assets with a view to increasing and stabilising net rental returns. Once repositioned the assets will be considered for divestment subject to the prevailing market conditions.

Track Record

EG is on track to deliver strong out-performance to investors on Core Plus Fund No. 1.  The fund has divested three assets to date, achieving an average IRR in excess of 40%.

PRISMS®

Asset selection is supported by the use of EG’s proprietary real estate risk management software, PRISMS®.  This software is designed to substantially improve investment risk identification, evaluation and pricing.

EG TRACK RECORD

Balancing risk and returns