This article is from the Australian Property Journal archive
QUEENSLAND property group CFMG Capital is looking to raise $200 million to develop more than 1,700 residential lots across south-east Queensland and Victoria.
The new private debt fund will invest in pooled mortgages over its portfolio of 1,733 homesites across 16 Queensland projects and one in Victoria.
The MIF is open to investments from $5,000 and provides the opportunity for investors to get exposure to a diversified portfolio of the Queensland and Victorian land markets without having to buy a property directly.
MIF distributions are paid monthly and will commence at a targeted rate of 8.25% per annum, reviewed monthly.
CFMG Capital Group general manager Andrew Thomson said the new fund was driven by customer requests for access to a broader diversified blend of the CFMG Capital project portfolio.
“MIF will allow investors to diversify their portfolio with exposure to the Queensland and Victorian land markets without going through the time and expense of buying a single property,” he said.
“Investors can also be confident their funds are spread across a diverse range of projects and locations.”
Monthly distributions will be paid in response to investors wanting a more regular income stream.
Thomson said the south-east Queensland land market remained buoyant with strong interstate migration and a healthy local economy driving demand.
“We are experiencing high levels of enquiry across all of our active projects with buyers moving quickly to lock in homesites as they come to market,” he said.
“Population growth remains strong and supply constraints are persisting. We expect these conditions to continue for at least the rest of 2024 and into next year.”
Queensland is expecting six million people to call south-east Queensland home by 2046 – a surge of 2.2 million more people.
CFMG paid $7.7 million last month for the last remaining piece of one of Brisbane’s largest egg farms, which it will use to extend the life of its sold-out Mayfair Lane project at Rochedale.
A year ago, it raised $15.2 million to support the growth of its development pipeline across the sunshine state.
