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Quintessential Equity rolls out new $100 million-plus fund

People & Companies / Latest News

Australia

Mar 16 2018

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Property developer and fund manager Quintessential Equity will close a new $100 million-plus fund, the first the group has established without a specific target. 
Quintessential Equity co-founder and director Harry Rosenberg said the fund was designed to make the group capital-ready to take advantage of future opportunities, caused by the actions of the big four banks.
"A lot of things are changing in the industry. Yields are at historic levels and shadow lending is taking up the slack left by the big banks," Mr Rosenberg told the Australia Israel Chamber of Commerce property lunch.
With more than $300 million in assets under management in other funds and $850 million scheduled for development, The Quintessential Equity Master Fund will target income-generating office and industrial properties.

Quintessential was established in 2010 by Shane Quinn and Mr Rosenber, offering high-net-worth investors the opportunity to directly own property through syndicates. 
It’s currently building a new $120 million headquarters for Worksafe in Geelong at 1 Malop Street, having paid $45.25 million for the Garden Square office complex in Mount Gravatt in 2016.
Quintessential actively trades properties, selling an office building at 44 Sydney Avenue, Canberra for $58.6 million, after buying it in 2015 for $32 million.
Previously the group sold a building it purchased for $14 million five years later for $58.4 million.

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