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Qalitas raise $35m for its real estate debt fund

Invest / Direct Property Funds

Australia

Jun 24 2019

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The Qualitas Real Estate Income has raised another $35 million in funds to issue more commercial loans, capital was raised via a placement of 21,675,889 units issued at $1.60 a unit, a 3.61 percent discount to the last closing price of $1.66 on June 18. 

The trust offers investors exposure to the commercial real estate finance through commercial loans to residential developers such as senior and mezzanine loans.  

As of May,Qualitas Real Estate Income trust deployed $181 millino (78 percent) of its fundsacross primarily construction loans, investment loans and pre-development (land) loans. Residential projects were the most significant portion of the book with commercial property only 10 percent, 10percent of loans were second ranking mortgages and 80 percent were first ranking senior mortgages.

77 percent of the loans were made to projects based in Victoria, NSW followed at 17 percent and the weighted LVR was 64%

 

 

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