PIMG have partnered with Acure Asset Management in a strategic alliance for investor growth and business expansion. Acure is a multi-asset fund (485M AUD) with an excellent track record since 2013. Acure holds a commercial portfolio under multiple syndicates spanning industrial, retail, commercial, mixed use and hotel assets.
Our partnership initially covers 2 hotel assets (AUD 56M) in Western Australia, the Sebel Mandurah (Accor) and Quest Fremantle. The portfolio provides a mixture of long term leases (76% of property income) and hotel management agreements (24%). The combination provides stable income with annual growth and potential for further upside from improved profitability from higher occupancy and room rates.
The portfolio is expected to deliver an initial distribution yield of 7.5% (p.a) paid quarterly and solid growth on exit. These properties are showcased in a video. Acure Funds Management Ltd is the fund management arm of Acure Asset Management Ltd and the holder of Australian Financial Services License No. 411056.
More details on Acure's website regarding the partnership: