asx code: urf investment and nta update 31 july 2013 nta ... · 8/14/2013 · asx code: urf...

14 August 2013

US Masters Residential Property Fund (Fund)

ASX Code: URF

Investment and NTA Update 31 July 2013

NTA update The estimated unaudited net tangible asset value before withholding tax (NTA) on unpaid distributions as at 31 July 2013 was $1.63* per unit.

Property portfolio update During July, the Fund received conditional acceptances for 11 properties, with an estimated combined acquisition cost of US$5.0 million. Based on the pre-purchase due diligence undertaken, it is estimated that these 11 properties will achieve annualised net yields of 4.0% to 7.4%. The Fund is in the process of finalising a property portfolio valuation exercise. Accordingly, the NTA at 31 July 2013 of $1.63 does not take into account any resulting potential fair value adjustments to the property portfolio. The independent appraisal and property valuation is expected to be included in the 30 June 2013 half yearly financial report. The following table summarises the Fund’s property acquisition activity for the month and since inception.

*Source: Dixon Advisory & Superannuation Services Limited – the historical performance of the Manager is not a guarantee of the future performance of the Portfolio or the Fund

The US Masters Residential Property Fund is the first Australian-listed entity with the primary strategy of investing in the US residential property market. Its portfolio comprises freestanding and multi-dwelling properties in the New York metropolitan area. The Fund is managed by Dixon Advisory & Superannuation Services Limited.

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Freestanding and multi-dwelling properties (URF share) – acquisition activity

# properties Total acquisition costs

(US$ million)1

Estimated property net yield range (%p.a.)

2

Month Inception Month Inception Month

Freestanding

Conditional acceptances received

3

11 74

$5.0m $52.1m 4.0% - 7.4%

Properties purchased

15 461 $17.9m $220.1m 4.0% - 7.2%

Total Freestanding secured

$270.8m

Multi-dwelling

Properties purchased

15 $35.7m

5.7% - 6.1%

Total freestanding and Multi-dwelling properties secured

$306.5m

Note: 1 Total acquisition costs inclusive of all property related closing costs which includes attorney fees, title charges, survey costs,

government recording and transfer charges and bulk sale compliance fees. 2 This yield does not necessarily reflect the distribution yield an investor is likely to receive on their investment. Estimated

yields are based on assumptions made by the Responsible Entity and actual yields may differ from these estimates. 3 Conditional acceptances do not include those properties which have been accepted and subsequently closed.

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ADDRESS: 685 CHAUNCEY ST, BROOKLYN, NY 11207

REGION: BUSHWICK

PROPERTY DESCRIPTION: KEY STATISTICS:

2-family attached Apt 1: 4 bed/3 bath, duplex Apt 2: 3 bed/2 bath 1 car garage Approximate land size 1,100 sq ft Walking distance to shopping and grocery

outlets Walk Score®: 72 Transit Score: 95

Acquisition Date: Total Acquisition Cost: Est. Monthly Rents: - Apt 1 - Apt 2 Est. Annual Net Yield:

1 July 2013

US $669,708

US $3,300 US $2,600

7.2%

OTHER COMMENTS: LOCATION:

Built in 2004, this property is a fully renovated 2-family brick townhouse with exclusive garage space that adds ample additional storage. Renovations include new stainless steel appliances as well as wood cabinets and floors. Located 3 blocks to the J subway line, 4 blocks to the L subway line, and 3 blocks to Marion Hopkinson Park.

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ADDRESS: 29 PROSPECT PL, BROOKLYN, NY 11217

REGION: PARK SLOPE


2-family attached Apt 1: 1 bed/1 bath Apt 2: 4 bed/2 bath, triplex Approximate land size 1,517 sq ft Walking distance to shopping and grocery



2 July 2013

US $2,721,257

US $2,400 US $12,000

4.3%


Built in 1920, this property is located in the highly desired Park Slope section of Brooklyn. This beautiful brick row house has a renovated kitchen, an outdoor patio and a beautiful garden area. Located 3 blocks from the 2 and 3 subway lines and a 10 minute walk to the Barclays Center. The Barclays Center is on top of Atlantic Avenue Subways and is the new home of the Brooklyn Nets and is rapidly becoming the new heart of Brooklyn.

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ADDRESS: 403 4TH ST, BROOKLYN, NY 11215

REGION: PARK SLOPE


2-family attached Apt 1: 2 bed/1 bath Apt 2: 3 bed/2 bath, triplex Renaissance style architecture Approximate land size 1,900 sq ft Walking distance to shopping and grocery



3 July 2013

US $2,079,502

US $4,500 US $7,900

4.0%


Built in the early 1900s, this ornate original limestone façade row house is located on a beautiful tree-lined neighborhood. The property contains original details such as wood doors and floors. Located 5 blocks to the F and G subway lines and 3 blocks to Prospect Park.

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ADDRESS: 83 COLES ST, JERSEY CITY, NJ 07302

REGION: DOWNTOWN


1-family attached 3 bed/2.5 bath Triplex 1 car parking Approximate land size 843 sq ft Walking distance to shopping and grocery

outlets Walk Score®: 95

Acquisition Date: Total Acquisition Cost: Est. Monthly Rents: - Apt 1 Est. Annual Net Yield:

3 July 2013

US $896,665

US $5,500

4.1%


This beautifully maintained 3 level brick townhome was built in 2004. This property has two spacious outdoor areas as well as private parking. The appliances are well kept and include black granite countertops, cherry wood cabinets, and stainless steel appliances. It is conveniently located less than a 10 minute walk from the Grove St PATH as well as the Newport PATH station, and is 3 blocks away from the prestigious Hamilton Park.

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ADDRESS: 592 HANCOCK ST, BROOKLYN, NY 11233

REGION: BEDFORD-STUYVESANT


1-family attached 4 bed/3 bath Triplex 1 car parking Approximate land size 2,000 sq ft Walking distance to shopping and grocery



8 July 2013

US $756,053

US $5,700

4.0%


Originally built in 1886 by renown artist, painter, and graphic designer William Neal and architect Amzi Hill. This three story townhouse has beautiful original wood details and a spacious rear outdoor patio. Located 5 blocks to the A and C subway lines and 2 blocks to El Shabazz Playground.

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ADDRESS: 296 MANHATTAN AVE, BROOKLYN, NY 11211

REGION: WILLIAMSBURG


2-family attached Apt 1: 2.5 bed/1 bath, duplex Apt 2: 3 bed/1.5 bath, duplex Approximate land size 1,500 sq ft Walking distance to shopping and grocery



9 July 2013

US $1,520,291

US $3,500 US $4,250

4.0%


Highly desirable residential block built in the early 1900s and completely renovated. This 2 family half brick and wood façade is set up as a double duplex. Renovated features includes wood cabinetry, stainless steel appliances & stone countertops. The property is located 2 blocks to the L subway line and 5 blocks to Cooper Park.

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ADDRESS: 72 MIDDAGH ST, BROOKLYN, NY 11201

REGION: BROOKLYN HEIGHTS


1-family attached on 1 side 4 bed/3 bath Triplex 3 car garage parking Approximate land size 2,519 sq ft Walking distance to shopping and grocery



9 July 2013

US $3,227,900

US $19,000

4.2%


Exclusive property located in the Brooklyn Heights Historic District built around 1899 and was a former schoolhouse. This 4 story single family home includes two extensions and has a new wood frame facade. The property provides many exclusive amenities including parking spaces for 3 cars, heated bathroom floors, and original pressed tin ceilings. Located 3 blocks to the A and C subway lines and 4 blocks to Brooklyn War Memorial and Whitman Park. Well known as the most beautiful and desired section of Brooklyn, the purchase price was very attractive for the area.

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ADDRESS: 109 SUSSEX ST, JERSEY CITY, NJ 07302

REGION: DOWNTOWN


3-family attached Apt 1: 3 bed/2 bath, duplex Apt 2: 1 bed/1 bath Apt 3: 1 bed/1 bath Approximate land size 2,058 sq ft Walking distance to shopping and grocery


Acquisition Date: Total Acquisition Cost: Est. Monthly Rents: - Apt 1 - Apt 2 - Apt 3 Est. Annual Net Yield:

11 July 2013

US $932,072

US $3,700 US $1,800 US $1,800

4.3%


This beautiful historic brownstone still holds its original details and charm. This property presents a unique redevelopment opportunity.

Located 2 blocks from Exchange Pl PATH station and ferries as well as 4 blocks to Colgate Center Park.

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ADDRESS: 2 HAMPTON CT, JERSEY CITY, NJ 07302

REGION: DOWNTOWN


1-family attached 4 bed/3.5 bath Quadplex Historic row house Unique façade with mosaic tiles Approximate land size 1,050 sq ft Walking distance to shopping and grocery



12 July 2013

US $1,093,104

US $7,250

4.6%


This grand property built in the late 1800s is one of seven historical proeprties with the exclusive address of Hampton Court Terrace. The property has retained many of its original features such as wide wooden floorboards, high ornate ceilings and grand fireplaces. Located close to the historic Van Vorst Park, it is a 5 minute walk to Grove Street PATH station. The fund already owns 6 Hampton Court Terrace.

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ADDRESS: 297 WEBSTER AVE, JERSEY CITY, NJ 07307

REGION: JERSEY CITY HEIGHTS


1-family attached on 1 side 2 bed/2 bath Duplex Greek Revival style architecture 1 car parking Approximate land size 1,667 sq ft Walking distance to shopping and grocery



16 July 2013

US $247,187

US $2,200

4.3%


Located in the heart of Jersey City Heights, this charming 1 family row house has original details. The property features exclusive parking and a lovely garden outdoor area. Located less than 1/4 mile to the 9th Street Light Rail station and less than 1/4 mile to Washington Park.

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ADDRESS: 44 DUER PL, WEEHAWKEN, NJ 07086

REGION: WEEHAWKEN


2-family detached Apt 1: 3 bed/1 bath Apt 2: 4.5 bed/2 bath Approximate land size 2,500 sq ft Walking distance to shopping and grocery



16 July 2013

US $560,830

US $1,600 US $1,800

4.3%


Located right off of the beautiful Boulevard East, this property was built in the 1940s and still exudes the old world charm with some new modern renovations. Updates includes high ceilings, recessed lighting, hardwood floors, modern kitchens and baths, and a full finished basement. Located less than 1/4 mile to Boulevard East bus stop , 1.5 miles to Port Imperial Ferry station, and less than 1/4 mile to Hamilton Park.

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ADDRESS: 176.5 COLES ST, JERSEY CITY, NJ 07302

REGION: DOWNTOWN


1-family attached 3 bed/2.5 bath Triplex Historic row house Approximate land size 834 sq ft Walking distance to shopping and grocery



17 July 2013

US $826,463

US $5,100

4.1%


This charming brick townhome is conveniently located 1 block away from the prestigious Hamilton Park and less than a 15 minute walk from the Grove St PATH as well as the Newport PATH station. This property has a renovated kitchen and an outdoor area in the rear. Finishes include master bath with steam shower, skylights and hardwood floors throughout.

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ADDRESS: 1388 LINCOLN PL, BROOKLYN, NY 11213

REGION: CROWN HEIGHTS


2-family attached Apt 1: 3 bed/2 bath, duplex Apt 2: 3 bed/1 bath, duplex Renaissance style architecture Approximate land size 2,000 sq ft Walking distance to shopping and grocery



18 July 2013

US $514,415

US $2,300 US $1,800

4.6%


Built in 1928 this well kept stone façade row house has original features. The wood floors are original and look exceptional. Located 5 blocks to the 3, 4, and 5 subway lines and 5 blocks to Lincoln Terrace Park.

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ADDRESS: 261 WEST 138TH ST, MANHATTAN, NY 10030

REGION: HARLEM


2-family attached Apt 1: 1 bed/1 bath Apt 2: 4 bed/3 bath, triplex 1 car parking Renaissance style architecture Approximate land size 1,700 sq ft Walking distance to shopping and grocery

outlets Walk Score®: 97 Transit Score:100


24 July 2013

US $1,242,957

US $2,000 US $5,250

4.1%


Built in 1910 this rarely available "Strivers row" townhome is located in an exclusive landmarked neighborhood. It has all the original pre-war details with 4 fireplaces and exclusive parking. Located a few blocks from City College of New York the property is 5 blocks to the B and C train and is less than a 10 minute walk to St. Nicholas Park.

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ADDRESS: 454 GREGORY AVE, WEEHAWKEN, NJ 07086

REGION: WEEHAWKEN


2-family detached Apt 1: 3 bed/2 bath Apt 2: 2 bed/1 bath Renaissance style architecture 1 car parking Approximate land size 3,410 sq ft Walking distance to shopping and grocery



25 July 2013

US $590,675

US $2,400 US $1,900

4.8%


Magnificient brick façade corner lot built at the top of the Palisades. The two-family layout consists of a side by side set up that has spectacular views of the Hudson River and the historic Empire State building. The property also has exclusive garage parking, and a new roof. Located on a quiet tree-lined street the property is a mile away from the Lincoln Harbor Light Rail station and a block away from the Hackensack Reservoir.

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asx code: urf investment and nta update 31 july 2013 nta ... · 8/14/2013 · asx code: urf...

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