The Courier-Mail Prime Site: Arcana beefs up portfolio
Boutique investor and funds manager Arcana Capital has acquired two fully leased and strategically located office buildings for more than $25.5m.
They have finalised the purchase of the properties at 35 Miles Platting Rd, Eight Mile Plains, and 190 Stirling St in Perth, for $13.55m and $12m, respectively.
A prominent cornerstone office building in the Brisbane Technology Park, 35 Miles Platting Rd is anchored by major national fuel and convenience retailer 7-Eleven, international solar giant Risen Energy, and growing multi-disciplinary NDIS operator Pepper Kids Therapy.
The deal was struck by Cushman & Wakefield’s Peter Court.
The property in Perth was a modern commercial office building situated in an increasingly popular residential precinct on the northern fringe of the CBD, with an anchoring lease to the WA Department of Communities (Child Protection and Family Support).
Arcana’s Colby Phillis said the blend of geographic diversity, multiple high-quality tenants, and CBD proximity marks an exceptionally well-balanced risk profile.
“With two high-quality office buildings situated in growing capital cities, and major government and multinational tenants secured, the Capital City Office Unit Trust presents a rare opportunity for wholesale investors,” Mr Phillis said.
“They will achieve inherent diversification within a single closed Trust, while still attaining a competitive forecast annualised distribution of 7.25 per cent in the first 12 months.”
Headed by former premier Campbell Newman, Arcana Capital has completed the acquisition and ongoing management of 31 properties worth $212.71m.
This article originally was published in The Courier-Mail.