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Canberra

10 Hobart Pl is prominently located at a highly exposed corner site within the Civic precinct of Canberra CBD, benefiting from its proximity to Canberra’s new light rail. It was purchased at $3,900m2 which is below replacement value (office construction is ~$4,000m2), which is significantly below the market and comparable sales. Bi-annual rental increases of 3.5-4% are built in to current leases. 

AVARI has been active in the private lending space since 2015. Unlike most private lenders, AVARI are also property equity investors, managing over $1 billion in assets on behalf of their investors and have completed a number of residential and commercial construction projects, refurbishment, leasing and sales.

Refer to the IM issued by AVARI for important disclosures and risk statements.

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Term

Type

Status

Asset Class

5yr

Equity

Closed

Office

Arranger

Avari

Acquired

Aug-2021

Distribution

6.8%

Target IRR

13.90%

Our key measures explained by Dr Andrew Wilson - 

Chief Economist at Wealthi.

Arranger

The arranger is the funds management group who is licensed to put together this arrangement. They are responsible for all matters relating to the investment opportunity and Wealthi runs a rigourous process to determine appropriate arrangers in the market.

Asset Type

In commercial, we generally tend to classify assets and opportunities as either Industrial, Retail or Office. At times we may present actual Funds, which operate as a lending vehicle to these different asset types.

Distribution

Distribution is the ongoing return from the cashflow of the asset which is repaid. Distributions are also known as dividends or interest payments. They can be paid monthly, quarterly or even annually. We also based these on an annualised rate and this is always an estimate, based on expected cashflows.

IRR

The internal rate of return (IRR) is a metric used in financial analysis to estimate the profitability of potential investments. IRR is a discount rate that makes the net present value (NPV) of all cash flows equal to zero in a discounted cash flow analysis.