Investors can access the US residential property market if they buy into a new property fund that is seeking to list on the Australian Securities Exchange.
The US Residential Fund aims to raise $60 million through an initial public offer (IPO) of new stapled securities at $1 each.
A free option, exercisable at 95 cents, will be issued for every two stapled securities.
Fund chairman Owen Lennie described the fund as a "no fuss" gateway for Australian investors into the US residential market, which is recovering from the global financial crisis.
The fund finds houses and apartments in select US cities that have faster economic, job and population growth, such as Atlanta in Georgia, and Dallas and Houston in Texas.
Research showed that household growth was above the US national average in Atlanta, Dallas and Houston, but the supply of rental housing had not kept pace with increasing demand.
Construction of new homes was significantly less than a decade ago.
No zaph, keep your money, there are far better things to invest in that US property. A fractionally corrected ponzi.
US stocks are shockingly overpriced, now a bigger ponzi than housing ever was or still is.
The US ponzi stock market is collapsing just as I told you all it would as this tapper winds up . And gold rising back up. There will be no interest rates rises there. Just more QE once the stock market drops too far, just like every other fkn time.
Not sure why anyone would bother. Just open an etrade account and buy the multifamily REITs directly. Internally managed (no conflict) and large and liquid with much better access to the capital markets I dare say.
If you like the sunbelt, Camden is probably the best play. The more expensive REITs like Avalon bay etc tend to focus on coastal high barrier to entry markets (lower return, but lower risk).0
Be careful. Supply in multifamily is surging, but single dwelling supply is still way below long term trend.
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