Realside Property Collaborate to Launch $100M Industrial Property Fund Under Ovest Industrial
Realside Property has today announced the launch of an Industrial Fund in collaboration with Perth-based executive team, led by Julie Drago, formerly of Western Australia property developer and owner, Hero Properties.
The first fund launched under the entity, Ovest Industrial, is the Ovest Industrial Fund No1 (the Fund). The Fund has secured options to purchase land of $45M and is targeting a total portfolio value of $100M once fully developed. The acquisitions are backed by tenant pre-commitments, secured over the sites, which will be developed by Ovest.
Realside Chief Executive Officer, Mark Vonic said, “The Ovest Fund is an innovative build-to-own model providing sophisticated investors with long-term cash flow and the ability to participate in development upside. The Fund will target tenants in the 3000-10,000 sqm range, in the Perth, WA market.”
“Our partnership with Julie and her highly regarded team is core to the Fund’s formation and emblematic of the type of deals we seek for our investors. Julie, Linda, and Stephen bring a proven track record in industrial development and asset management coupled with Realside’s asset and investment management expertise. Bringing those skills together to form Ovest creates a truly unique vertically integrated industrial development manager, asset manager, and investment manager.”
Mr Vonic continued, “The timing of this launch capitalises on the strong economic conditions in the WA market, driven by the resource sector and significant global infrastructure spend post-COVID, fuelling the growth of business and tenant demand for industrial property.”
Julie Drago said, “We are pleased to be partnering with Realside who share our vision to develop high-quality property in the Perth industrial sector.
We are an experienced development team with established roots in the manufacturing and industrial sectors. We proudly develop Properties with long term ownership in mind and we build long-lasting relationships with Tenants based on service delivery and an acute understanding of their specific requirements”
Mr. Vonic said the primary focus for Realside is the preservation of client capital and ensuring that investor returns are commensurate with the level of risk.
“We provide access to high-quality private market investment opportunities across direct core and value-add property assets, private debt, and structured equity. Ovest is another example of the innovation that we strive for to create interesting investment opportunities for our clients.”
Media contact
Amy Boyce
E: [email protected]
M: 0449 553 990
For further information:
Mark Vonic — Chief Executive Officer and Director, Realside Property
Mark is Chief Executive Officer and a director of Realside Property Pty Ltd. He has over 20 years’ funds management experience in the Australian real estate industry. Mark’s roles have spanned the full spectrum of the real estate funds management industry, from acquisition to asset management, through corporate governance to capital raising. He has been involved in the start-up of several funds’ management businesses including in the UK, and has executed a China real estate strategy. Mark has held various roles with Glenmont, Primewest, and now Realside. He has a long track record of identifying investment opportunities for investors, often off-market, that produce income and capital growth commensurate with the specific underlying real estate, with a keen focus on the relationship between risk and reward. Mark has completed well in excess of $2 billion of acquisition.
Julie Drago — CEO, Ovest Industrial
Is the former CEO of Hero Properties. With over 20 years’ experience in Property Development, Building Construction Management, and Portfolio Asset Management (Industrial) Julie is an experienced property developer and executive. Julie is also a Division Councillor Property Council of WA and holds a BEc, GAICD.
About Realside Property
Realside Property (RP) is the specialist commercial property division of Realside Financial Group www.realside.com.au.
The division is led by seasoned commercial property investor Mark Vonic. RP seeks investment opportunities that exhibit best-in-class attributes: location, condition, functionality, tenure, and demand.
RP brings to the fore its unique market experience and relationships to identify properties that are relatively mispriced, unique in nature, or that offer attractive value – representing outstanding investment opportunity.
Disclaimer
Realside Asset Management Pty Ltd (ACN 634 575 714 AFSL 517629) (Realside) is the trustee of the Ovest Industrial Fund No. 1 (Fund) and has appointed Ovest Industrial Pty Ltd (ACN 649 460 748) (Ovest) as the manager of the Fund. While neither Realside nor Ovest has any reason to believe the information in this document is inaccurate, the truth or accuracy of the information cannot be warranted or guaranteed. Before making any decision regarding the Fund, investors should consider the Information Memorandum dated 14 May 2021 (IM) which contains important information about investing in the Fund. It is important investors obtain and read the IM before making a decision about whether to acquire units in the Fund. This document contains general information only and is not intended to be financial product advice. It does not take into account any person’s (or class of persons’) investment objectives, financial situation or particular needs, and should not be used as the basis for making investment, financial or other decisions. Investors should also consult a licensed financial adviser before making an investment decision in relation to the Fund. Neither Realside nor Ovest nor any other person associated with the Fund guarantees or warrants the future performance of the Fund, the return on an investment in the Fund, the repayment of capital or the payment of distributions from the Fund. To the extent permitted by law, no liability is accepted by Realside, Ovest or their respective directors for any loss or damage as a result of any reliance on this information.
