Momentum Wealth’s most recent residential development syndicate proved highly popular with investors after closing fully subscribed last month.
The Momentum Wealth Prime Property Development Fund (PPDF), which was launched in November last year, received commitments totalling $4 million and was closed in early December.
The PPDF comes on the back of our highly successful Carine Rise development syndicate, and will target the acquisition of a development site and subsequent construction of a boutique apartment complex.
The PPDF also follows the successful launch of the MPS Diversified Property Trust in July 2015 by our affiliated company, Mair Property Funds.
Following its launch, the MPS Diversified Trusts completed two successful raisings totalling over $6 million.
The funds were used to acquire high-quality commercial properties in Victoria and Western Australia, which will provide robust returns to investors.
Keep an eye out for further syndicates and trusts from Momentum Wealth and Mair Property Funds in the forthcoming year.