Global real estate investment and asset management firm, Forum Partners, on behalf of affiliate Forum Asian Realty Income Fund III, has acquired three towers of student housing accommodation in New Zealand, located in Wellington’s CBD. This is the firm’s first investment in New Zealand having been investing in Australia since 2010.
Andrew Faulk, Head of Australia for Forum Partners, commented: “These investments are indicative of Forum’s approach to investing. They provide good current income via long-term leases to established universities, themselves backed by the New Zealand Government, and have potential upside from asset value growth and repositioning”
Centrally located, the assets are within a well-known student precinct, only a 10 minute walk to popular Victory University of Wellington and Wellington Institute of Technology and a 15 minute walk to the Wellington CBD, with regular bus and train services nearby.
Greg Wells, Head of Asia for Forum Partners, added: “With growing housing demand from internationally-mobile students and low levels of competition, the student housing sector suits our investment thesis which is to focus on risk mitigation while retaining upside potential. The assets allow for possible future redevelopment while generating strong, low-risk rental returns with weighted average lease expiries of 15 years.”
Forum Partners opened its Sydney office in June 2012, reflecting the group’s conviction toward and commitment to investing in the region across both private and public real estate markets as well as introducing its products to Australian investors.
Libby Langtry, Forum Partners +61 2 9222 8205 firstname.lastname@example.org
Notes to Editors:
About Forum Partners
Forum Partners Investment Management LLC, along with its affiliates, is a global real estate investment and asset management firm established in 2002 and invests on behalf of institutions and family offices via closed end funds and separate accounts. Majority owned by its partners and employees, Forum provides growth and/or restructuring capital – as well as governance and capital markets expertise – to small and mid-sized sector focused real estate operating companies with the goal of creating the proper alignment to unlock asset and enterprise value. The firm sets out to achieve attractive medium/long-term returns for investors in an environment of contained risk with capital protection at its heart. Forum has over 80 employees in 12 offices across Asia, Europe and the US.
About Forum Securities
Forum Partners’ affiliate, Forum Securities Limited, provides its clients with innovative portfolios of real estate securities that allow for volatility control and downside protection while targeting custom designed investment objectives. Forum Securities’ clients enjoy the liquidity offered by global public securities enhanced by a strategic overlay focused on delivering a long-term income return enhanced by the realization of value from the underlying properties.
About La Française Forum Real Estate Partners
Through Forum’s 2014 joint venture acquisition, with Groupe La Française, of Cushman and Wakefield Investors, now rebranded La Française Forum Real Estate Partners (“LFF Real Estate Partners”), the firm provides bespoke investment solutions to investors seeking core/core plus, direct, pan European real estate exposure via separate accounts and closed end funds. LFF Real Estate Partners has a particular expertise and strong track record extracting value from urban retail assets.