The media releases on this website relate to ISPT and were issued prior to the merger with IFM Investors. They are provided for historical reference only. They may not reflect IFM’s current views, operations or position.
FSCREC Property Fund Acquisition
ISPT’s non-discretionary retail based neighbourhood and sub-regional shopping centre fund ISPT Retail Australia Property Trust (IRAPT) has completed the transaction with E&P Investments Limited to invest in the Fort Street Real Estate Capital (FSREC) Property Fund.
The FSREC Property Fund owns 12 retail properties with a focus on convenience and non-discretionary retail such as supermarkets, fresh food, medical and essential services. The transaction also includes IRAPT’s acquisition of E&P Financial Group Limited’s 75% interest in the manager of the FSREC Property Fund.
Daryl Browning, CEO said
“This acquisition will immediately increase IRAPT’s exposure to a convenience‐based retail portfolio, in alignment with the IRAPT Strategy for 2021‐2025. The centres will continue to be managed by Fort Street Real Estate Capital and we look forward to a long and prosperous relationship.”
IRAPT, launched in 2013, is open ended and valued at circa $1.8 billion as at 31 December 2021.