doing great business with a good conscience … · 90 north is an independent real estate...
TRANSCRIPT
Our Performance 1
90 North Story 3
Global Perspective 4
Key Stages in a Successful Acquisition 6
Responsible Investment 8
London Team 10
Insight UK 12
UK Case Study 14
Insight Europe 16
Europe Case Study 18
Chicago Team 20
Insight USA 22
USA Case Study 24
Sydney Team 26
Insight Australia 28
Kuala Lumpur Team 30
Contacts 32
DOING GREAT BUSINESS WITH A GOOD CONSCIENCE
90 NORTH IS AN INDEPENDENT REAL ESTATE INVESTMENT ADVISER THAT OPERATES GLOBALLY. OUR APPROACH GIVES INVESTORS THE COMMERCIAL RESULTS THEY WANT FROM INVESTMENTS THAT ARE IN TUNE WITH THEIR VALUES. WE FORM COMMITTED REAL ESTATE PARTNERSHIPS THAT ARE ETHICAL AND PROFITABLE.
90 North’s growth has been driven by an unwavering focus on our markets across the globe, identifying the most attractive investment strategies and securing the best opportunities to share with our equity partners. Being nimble we can react quickly and decisively, with a reputation for working resolutely and pragmatically to deliver what we promised. Assets under management now exceeds $1.5 billion, split across the USA, UK and Continental Europe, and diversified across a wide range of sectors.
OUR PERFORMANCE
Growth March 2012 to March 2017Assets Under Management
0
2012 2013 2014 2015 2016 2017
300
600
900
1,200
1,500
1,800
Mill
ion(
$)
Acquisitions by RegionAcquisitions by Sector
n USA: $679mn UK: $687mn Europe: $377m
n Office: 52%n Retail: 16%n Residential Development: 10%n Warehouse/Industrial: 9%n Student: 9%n Care: 4%
7M +SQ FT OF FLOOR SPACE UNDER MANAGEMENT
2010 AVERAGE INVESTMENT PROPERTY BUILD DATE
40RETAILERS. OVER 670,500 SQ FT OF
RETAIL SPACE
15FINANCE PROVIDERS
2K +STUDENT
ACCOMMODATION BEDS
10K +CAR
PARKING SPACES
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“ THE BIGGEST DIFFERENCE BETWEEN US AND OTHER INVESTMENT ADVISERS IS THAT WE ARE PARTNERS – PUTTING OUR OWN PERSONAL MONEY AND REPUTATION INTO EVERY TRANSACTION. THIS IS A GUARANTEE THAT WE WILL BE TOTALLY FOCUSED ON MICROSCOPIC DETAILS OF THE ACQUISITIONS, MANAGEMENT OF THE ASSETS AND THEIR EVENTUAL SALE AND PROFITABILITY.”
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“ 90 North has executed approaching 30 transactions over the last 5 years with a combined value quickly approaching $1.75 billion. The reasons for our success are very simple; we have a clear understanding of the needs of our investors and have consistently delivered opportunities that match their requirements in the UK, Continental Europe and US.”
James Caan CBE, Chairman
90 North was established with the promise of doing great business with a good conscience, its founders believing that impeccable ethics and a responsible investment strategy make good business sense. They shared three values that now guide all decisions and actions of the firm:
ETHICS MATTER | PARTNERSHIPS SUCCEED | RESULTS COUNT
90 NORTH STORY
Philip Churchill and Nick Judd came together as Founder Partners from the different but complementary worlds of banking and property. Both had formed a deep understanding of the wants and needs of investors, and recognised these were not being satisfied by the existing investment managers in the market. James Caan CBE and Faisal Butt shared their vision, and 90 North was founded in 2011.
The business’ name was derived from 90 degrees north being the precise top of the world, in stark contrast to the wavering magnetic north. With future global expansion on their minds, 90 North seemed an appropriate name and geographical reference point for future property acquisitions, capturing the precision that Philip and Nick sought.
Balanced with precision was the passion that the Founders brought, and which they have engendered in everyone at 90 North. With an absolute determination to deliver, they draw inspiration from the words of Philip’s namesake Winston Churchill who stated that “I have nothing to offer but blood, toil, tears and sweat”. Empowering individuals, the phrase “Get it done” is frequently heard across 90 North’s four global offices.
Bringing it all together has been 90 North’s promise: Doing great business. With a good conscience.
$1.5B+ REAL ESTATE
PORTFOLIO WORLDWIDE
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90 North identifies, structures and executes real estate investment and development strategies across the UK, Continental Europe, USA and Australia. Our global reach increases the choice and quality of the opportunities we offer investors. Our four offices provide the local perspective essential for developing the enduring partnerships that enable us to do business successfully and ethically.
GLOBAL PERSPECTIVE HEADQUARTERED IN LONDON, WITH OFFICES IN CHICAGO, KUALA LUMPUR AND SYDNEY.
FBI Headquarters, Denver, Colorado Drakehouse Retail Park, Sheffield
Siemens Gas Turbine Maintenance Headquarters, Lincoln
Continental at The Reserve, Chicago
Parham Road Student Village, Canterbury
Prime Life Care Home Portfolio, East Midlands
“ At 90 North, we have been thinking globally since inception, and this mindset has played a key role in our successful expansion to the US, Europe, Southeast Asia and Australia. I am excited about building out our existing offices and the foray into new geographies we are considering.”
Faisal Butt, Partner
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CHICAGO OFFICEEstablished 2014
SYDNEY OFFICEEstablished 2017
KUALA LUMPUR OFFICEEstablished 2015
2014 ACQUISITIONS COMMENCED ACROSS THE UNITED STATES
2012 ACQUISITIONS COMMENCED
ACROSS THE UNITED KINGDOM AND CONTINENTAL EUROPE
LONDON OFFICEEstablished 2011
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1 MarketWith a global presence and experience in almost every sector, the most attractive market sectors are selected.
2 OpportunitiesReviewing more than $10 billion worth of real estate opportunities every year from both open and off market contacts, the most compelling opportunities are selected.
3 SellerSeller relationships are maintained throughout the transaction process including negotiating and finalising all documentation.
4 FinanceWith long established finance relationships, we secure the best pricing and terms, co-ordinating all aspects through to closing.
5 EquityRelationships and strategies are established with investors, whilst our co-invest in all transactions ensures alignment of interests.
6 Ownership structureWe lead on the selection of appropriate regulated administrators and law firms to support the establishment of ownership structures, typically offshore.
7 Due diligenceCo-ordinating all aspects of due diligence including market valuation, measured survey, structural report and environmental assessment, recommendations are made on how best to proceed.
8 LegalSeeking the best quotes and terms through established relationships, we co-ordinate all the lawyers engaged in the acquisition.
9 TaxWorking with both the leading global tax firms, as well aslocal specialists a robust and efficient tax position is achieved.
10 Asset management preparationEstablishing a detailed business plan and appointing any external professionals allows an immediate start.
Our 10-stage process begins with an assessment of the real estate markets, followed by a careful screening process that clearly identifies the most compelling opportunities. We orchestrate the entire acquisition and, with passion, persistence and impeccable timing, get each transaction to completion. Proactive asset management starts before the acquisition has even closed – often enabling an investment to outperform original projections.
KEY STAGES IN A SUCCESSFUL ACQUISITION
MARKET1
OPPPORTUNITIES 2
SELLER 3
9TAX
FINANCE 4
8 LEGAL
EQUITY 56 OWNERSHIP STRUCTURE
7DUE DILIGENCE
10 ASSET MANAGEMENT PREPARATION
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“ It all comes down to passion and commitment for every transaction. We have built a reputation for always completing. Intentions are not enough. We only go to our investors when we have something that will be executed.”
Philip Churchill, Founder & Managing Partner
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RESPONSIBLE PROPERTY INVESTMENT IS INTEGRAL TO DOING PROFITABLE BUSINESS WITH A GOOD CONSCIENCE.
CSR90 North is proud to support St. Mungo’s, a charity which offers immediate support to homeless and at risk people in London.
It was when developing our Central London residential schemes that we first became aware of St Mungo’s. We recognised how important it is, as a real estate company, to ensure we are giving back to London’s most vulnerable. Every night, St Mungo’s provides a bed and support to more than 2,600 people who are either homeless or at risk. The charity helps these people rebuild their lives and works to end homelessness.
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We’ve committed to a strategy that ensures all investments are environmentally sound, socially responsible and appropriately governed. Ethical investing is part of our heritage, with many of our partners having worked in environments where Shari’ah compliance is required.
RESPONSIBLE INVESTMENT
EnvironmentWe avoid acquiring properties where:
• Environmental issues have occurred or are likely to do so
• The tenant’s activity is likely to damage the environment
• Tenants’ requirements for energy efficiencies can’t be met
We prefer to acquire properties that provide best-in-class accommodation, including buildings with:
• “Excellent” or “Outstanding” rating from BREEAM
• “Silver” LEED certified or above
Examples:• A significant 20 acre solar panel farm is
currently being constructed at Lenovo Headquarters which will provide 3.0 megawatts of power to the property and the community power grid
• The Siemens Gas Turbine Maintenance headquarters in the UK has an “Excellent” BREEAM rating – with solar panels providing 10% of the energy
• The FBI Headquarters in the USA received the Environmental Protection Award for the Greatest Energy Savings of any Office Building in Denver 2012
• The Centrica Energy headquarters building in Norway is BREEAM “Very Good” rated. Employees are encouraged to walk, take the boat or cycle to the office
SocialWe are conscious of the social impact of our business so we:
• Frequently purchase properties that have a positive social impact, including care homes and student accommodation
• Deliver accommodation that is fit for purpose
• Require the best level of service from property managers
• Engage in frequent tenant liaison to address any tenant issues or wishes
• Deliver a positive environment for people working at 90 North, encouraging personal development and responsibility
We avoid acquiring properties where a tenant’s activity could have a negative social impact or be subject to adverse government intervention, including restrictions on activity or additional taxation.
GovernanceProper governance is part of our ethical code so we:
• Co-invest in all acquisitions unless requested not to by the investor
• Align remuneration of our partners to the performance of individual investments
• Ensure any board members involved in the management of transactions have the necessary skills to fulfil such a role
• Are totally transparent in all aspects of our business dealings
• Establish shareholder agreements on transactions that are equitable to all participants
70% US ASSETS BRAND
NEW IN 2016
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Over 75% of Fortune 500 companies have offices in London. World-class transport links and a time zone that bridges the USA, Middle East and South East Asia makes it ideal for communications and as a centre for our global operations.
Acquisition Our experienced acquisition team handles every stage of the acquisition process – from exclusivity through to completion and covers a wide range of real estate asset classes.
Insight into demographic and consumer changes enables us to continually evaluate the best investment opportunities. Currently we are focused on:
• UK student housing
• UK retail parks and supermarkets
• Logistics and industrial properties (particularly in Germany and The Netherlands)
• Regional offices
• Residential real estate
Meticulous analysis is key to every decision. It is this that has enabled the team to consistently identify compelling investment opportunities that deliver profitable outcomes.
Asset managementOur UK and Continental Europe asset management team manage the performance of each asset striving to consistently deliver attractive investment returns.
Key to our success is the close relationships we have with tenants, understanding their needs and aspirations and working with best in class professionals.
Finance and tax 90 North’s central finance and tax operations are based in London.
We take a proactive approach to setting up and monitoring tax efficient structures for all our investors, while keeping within the letter and spirit of tax laws by utilising our extensive in-house experience, combined with the most current technical knowledge from our advisers.
Our head office opened in 2011 and is based in the heart of London’s West End. From this hub, we manage all transactions and assets in the UK and Continental Europe.
LONDON TEAM
90 North’s London team, representing the best expertise in property, legal, tax and finance
Philip Churchill, Susan MacLachlan and Nick Judd
75%+ OF FTSE 500 COMPANIES HAVE OFFICES IN LONDON
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Susan MacLachlan Head of Finance
Susan is an FCA chartered accountant and an experienced real estate finance professional, leading on all aspects of finance, accounting and tax across 90 North’s offices.
Having worked in the industry for over a decade, Susan has gained extensive experience working on transactions across the US, UK and Continental Europe, including both fund and individual asset structures, and across a wide range of sectors.
At 90 North, Susan plays an integral role in the offshore and onshore taxation and structuring for all acquisitions and disposals; in addition to managing our service providers for management accounting, reporting and compliance.
“ Our in-house experience and excellent relationships with international tax experts help us find optimal structures for the business plan of the underlying assets, as well as our ultimate investors.”
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The UK has proven itself to be an adaptable economy, strengthened by a trusted legal and stable political system. Whilst there is short-term uncertainty related to the UK’s exit from the EU, the market will remain stable for long-term real estate investment. A tight supply of developable land underpins the UK real estate market and property values. The infrastructure, geographic location, language and attractive corporate tax rate ensures the country will remain home to many multinational corporations. London will continue to receive the lion’s share of investment, but the regions offer compelling opportunities for real estate investors. Student accommodation: the UK has over 2.25 million domestic and international students passing through its universities and colleges. This generates a continuous requirement for new student housing, a sector that is now entering a second phase as older housing is replaced by modern high-specification accommodation.
Retail: online shopping continues to influence the retail sector. Whilst 90% of purchases still take place in store, consumers have more choice. The growth of click & collect shopping has revitalised the retail parks sector. This has also created substantial demand for distribution warehouses in strategic locations across the country. Office accommodation: with rents high in London, occupiers are constantly searching for better value space in regional cities. Businesses are attracted to those with strong transport links and the Government continues to invest in the infrastructure. The High Speed 2 railway network was recently approved, which will further improve connections between London and the north of the country. Care homes: the aging population is creating growing demand for care homes and other social infrastructure.
INSIGHT UK
THE UK HAS OVER 2.25 MILLION DOMESTIC AND INTERNATIONAL STUDENTS PASSING THROUGH ITS UNIVERSITIES AND COLLEGES.
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John YeendPartner
Senior real estate professional, John Yeend has 25 years’ investment, development, fund management and asset management experience. An expert in UK student accommodation, he has acquired £550+ million in the sector over the last five years – a third of which was funding new developments.
“ Appetite for UK real estate investment has strengthened with many foreign investors taking advantage of the fall in Sterling.”
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High footfall and a secure income stream from leading retail tenants made this property a compelling investment opportunity. Crossley Retail Park forms a core part of Kidderminster’s retail offering. Located where three interlinked retail areas meet, it also shares access with the town’s major Sainsbury’s superstore, which is a magnet for shoppers. In addition, previous under-management meant there was potential to enhance its value.
UK CASE STUDY
The property• 12 modern retail warehouse units
• 204,649 sq ft
• 813 car parking spaces
• Prime town centre location
Crossley Retail Park Kidderminster
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Active asset management• Achieved 100% occupancy with the letting of the sole
vacant unit to Oak Furniture Land
• Added income and increased footfall to the park by obtaining planning, securing a pre-let and developing a new Costa Coffee unit
• Secured occupancy and increased the value of the Pets At Home unit by negotiating the removal of tenant lease break options
• Improved the tenant mix and materially increased rental income by downsizing the existing Staples unit and creating a new unit pre-let to Mountain Warehouse
• Enabled the accommodation of higher value fashion tenants by negotiating a relaxation of planning conditions on tenant use
• Increased revenue, value and average lease length by agreeing terms to renew a lease for Benson for Beds unit
“ Crossley Retail Park is a prime example of how implementation of active asset management can provide a material increase in value. To achieve this, it is imperative to obtain a detailed understanding of tenants’ immediate and long-term business requirements. Consequently, this knowledge can be used to increase revenue through new lettings, lease re-gears, creating new units and downsizing existing units whilst broadening the tenant mix.”
Ed Gibbon, Senior Asset Manager
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INDUSTRIAL AND LOGISTICS MARKETS IN EUROPE CONTINUE TO DELIVER A STRONG PERFORMANCE.
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Appetite for core property in Europe’s most liquid markets remains strong. Germany continues to be widely regarded as a safe haven for capital in Continental Europe and the best security of future income. The growing Nordic economies, with low public debt and stable political backdrops, maintain their safe haven status as destinations for global capital. The positive economic outlook, low interest rates and favourable relative pricing continues to drive capital into the Dutch real estate market.
Industrial and logistics markets in Europe continue to deliver a strong performance as the sector has proven resilient. Investor interest is being attracted by high returns, sustained lower vacancies, increasing occupier demand and continued growth in business sectors. This is due to private consumption and the growth of e-commerce. In addition, the sector is expanding because it is structurally under-supplied.
The combination of the hunt for yield and desire for long-dated secure income has led to the growing appeal of alternative sectors in Europe. These include student housing, senior living, and data centres.
INSIGHT EUROPE
“ The European logistics sector is a strategic focus for 90 North given its long-term investment return potential. The sector is poised to experience significant growth driven by the growth in e-commerce, a rapidly developing supply chain network and supportive legislative framework.”
Lisa Amin, Senior Investment Manager
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The strength of the tenant, the location of the property and the quality of the building made the Volkswagen warehouse a strong investment opportunity.
The facility is leased to and operated by Rudolf Logistics. The partnership between the two companies is well established, with Rudolf Logistics already operating VW warehouses throughout the Kassel area. Rudolf Logistics has a 10-year lease with fixed annual indexation of 1.5% and extension options at expiry.
The location of this large logistic and manufacturing hub was chosen by VW for spare parts storage because of the direct road and rail connections to their manufacturing plant. Easy access in North-South and West-East directions makes the hub one of the most important logistics and distribution centres in the country.
The commitment of the tenant is likely to continue due to the ongoing need for the building. Distribution of genuine parts is an important area of activity for the group. VW is producing an increasing number of cars and is required to keep stock of spare parts for every model for 15 years after each production run. Demand for warehouse space for spare parts storage is set to persist.
The building is Grade A warehousing and was constructed to the exacting standards of VW. The flexibility of the build allows for efficient subdivision of space in the unlikely event that VW should vacate the property.
The property• Newly built logistics warehouse
• 1.1 million+ sq ft
• Used for spare parts storage
• Located close to the manufacturing plant
TenantThe building is leased to Rudolf Logistics – a large international logistics company.
EUROPE CASE STUDY
“ This acquisition underpins our primary strategy of seeking a secure income stream for our clients with a highly attractive return profile.”
John Yeend, Partner
Volkswagen Warehouse Kassel, Germany
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A key reason for choosing Chicago was the excellent transport links to the rest of the US. Also its time zone enables frequent contact with our teams in London, Kuala Lumpur and Sydney – essential for completing carefully orchestrated transactions.
Chicago is also home to some of the top colleges in the US, with a thriving and diverse workforce and a central business district that attracts some of the world’s top performing companies.
Led by Dan Cooper, our fast-growing team of experienced professionals offers unrivalled insight into the US real estate market.
AcquisitionOur acquisition strategy is led by ongoing demographic and consumer changes.
The team thoroughly researches every acquisition opportunity enabling us to consistently identify attractive investment opportunities that deliver healthy profits.
Asset managementOur dedicated asset management division looks after our US portfolio, seeking to achieve maximum performance from every one of our assets.
We work closely with tenants, property managers and professional advisers to develop the right strategies to add real value to our assets.
The 90 North US operation was established in 2014, with the opening of our office in downtown Chicago. The team has its own acquisition, finance, legal and asset management divisions.
CHICAGO TEAM
3M +SQ FT OF OFFICE SPACE UNDER MANAGEMENT
90 North’s Chicago team. Left: Paul Einum, Priscilla Miles, Marty Ahern, Daniel T. Cooper, Jay Pacelli, Ashley Youngs, Michael Clark
Jay Pacelli Vice President, Transactions
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Dan Cooper Partner, Head of North America
Dan is a senior real estate investment professional, with 30 years’ experience across a wide range of property sectors. He has held leadership roles in property management, asset management, fund management and brokerage.
At 90 North he focuses on the acquisition and structuring of US transactions, as well as active asset management through the investment life cycle.
“ Investors continue to seek the diversification and yield opportunities that real estate provides. As long as attractive financing is available, real estate should perform well.”
Downtown Chicago
2121
GROWTH CITIES ARE OFFERING A MORE ATTRACTIVE YIELD THAN GATEWAY CITIES SUCH AS NEW YORK, SAN FRANCISCO, WASHINGTON DC AND LOS ANGELES.
Atlanta, across Lake Meer
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Corporate expansion and population growth in markets such as Dallas, Atlanta, Denver, Austin, Seattle, Salt Lake City, Raleigh and Charlotte – to name a few – are paving the way for both US and international investors. Tenants are finding these markets attractive as they share similar blue prints: population growth, a low cost of doing business, high quality of life and an educated workforce.
Office markets have benefited, with corporations expanding or moving key operations to take advantage of economics and strong demographics. Corporations are deploying capital and choosing locations to create a “live, work, play” atmosphere for their employees – the aim being to create a culture of work-life balance that results in high employee retention.
These markets are experiencing a tightening in vacancy and an uptick in rents where new institutional quality buildings are being constructed. Investors are discovering that these growth cities are offering a more attractive yield than gateway cities such as New York, San Francisco, Washington DC and Los Angeles.
INSIGHT USA
“ Growth cities are providing opportunities for investors to acquire institutional quality assets with large corporate names in markets with strong growing demographics and local economies.”
Marty Ahern, Vice President, Investment
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The 15-year lease taken by the General Electric Company and the flexible options it offers in the future, made this brand new class ‘A’ building an attractive opportunity.
GE chose it as the location for their Global Operation Center and Shared Services Hub and plans to hire up to 2,000 employees. They lease the entire property. The building was, and is likely to continue to be – an attractive proposition for them.
This is partly due to its Cincinnati location, where they benefit from the low cost of doing business and the highly educated workforce. GE also has a historical connection with the city, with their aviation division already based there.
Cincinnati is strategically located near several major interstates, a railway and an airport. This gives it outstanding connectivity to the rest of the US, putting it a 90-minute flight or a day’s drive from:
• Two out of three of the major US markets
• One of the two US manufacturing establishments
• Over 40% of US purchasing power
The building is a state-of-the-art facility located in a vibrant new “live work play” community, making it attractive to employees – good for both recruitment and retention.
The long lease provides a great deal of flexibility in choosing the best strategy in the future. 90 North plans to hold the lease for five years and then make a decision on whether to sell or refinance.
USA CASE STUDY
The property• 339,678 sq ft of office accommodation
• State of the art facility
• 24/7 “live, work, play” community
TenantGeneral Electric Company – a global digital industrial conglomerate that sits 8th in the Fortune 500.
General Electric Headquarters Cincinnati, USA
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Paul EinumUS Senior Asset Manager
With over 18 years' experience as a real estate professional, Paul has extensive experience across all stages of the real estate investment cycle.
He focuses on the operational and asset management aspects of 90 North’s business, managing its North American real estate portfolio to ensure it performs to business plan, and actively adding value.
“ With the long lease and the strength of GE’s commitment to the city of Cincinnati, this investment provides investors with flexibility for short and long term holds.”
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SYDNEY TEAM
Sydney is a prime global city and recognised as the gateway to Australia. As Australia’s largest city with a population of 5 million, it is the economic and financial hub. Frequently regarded as one of the world’s most liveable, connected and influential cities, Sydney attracts a diverse range of talented workers, creating one of the world’s most multi-cultural cities.
With over 30 years of experience in real estate funds management and development experience, Michael establishes and fosters relationships with advisers to identify the best opportunities for investors throughout Australia.
Currently, 90 North’s focus is on:
• Residential
• Student accommodation
• Logistics and industrial
• Health and aged care
• Retail
90 North is looking for well-positioned opportunities within these sectors, with particular attention to structural inefficiencies and supply and demand mismatches, to provide asset management and growth opportunities.
Our office in downtown Sydney, led by Michael Dowling, provides on-the-ground insight and access to the fast-growing, Australian real estate market.
26YEARS WITHOUT A
TECHNICAL RECESSION
The opening of our Sydney office at Gateway, 1 Macquarie Place
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Michael DowlingPartner, Head of Australia
Michael has over 30 years of diverse international real estate funds management, finance, investment and development experience.
He has sourced, analysed, undertaken due diligence, managed closings, financed, and undertaken planning and development. He has worked within the office, industrial, residential and retail sectors and across Southeast Asia and Australasia.
“ Australia continues to remain the most popular destination in the Asia Pacific region for cross-border real estate investment, with Sydney and Melbourne remaining the most favoured cities.”
Sydney harbour
2727
The land area of Australia is approximately the same size as the continental United States. Australia has a fast growing population, currently standing at 24.3 million, and with the 24 million mark reached 17 years ahead of forecast.
Some 85% of the population live within 50 kilometres of the coast. As a result, Australia is one of the most urbanised countries in the world, with a GDP growth averaging 3.3% per annum for the last 24 years. This ranks Australia number one in developed economies and with the 13th largest sovereign wealth fund in the world, The Future Fund.
The eastern coastal cities of Sydney, Newcastle-Maitland, Melbourne, Brisbane, Gold Coast to Tweed Heads, and the western coastal city of Perth together represent 57% of total population. These areas drive the economy through a combination of mineral exports, agriculture, manufacturing and services. 31% of Australia’s population is less than 24 years old and 42% is less than 54 years old with a median age of 36.9 years.
Residential, student accommodation, logistics and industrial, health & aged care and retail represent the best investment opportunities due to:
• Continued population growth (1.8% p.a. currently)
• Scarcity of logistics and industrial land in Sydney while international logistics and retail companies continue to need modern facilities
• The increasing move towards privatisation in the health sector.
INSIGHT AUSTRALIA Melbourne's Yarra riverfront
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AUSTRALIA IS ONE OF THE MOST URBANISED COUNTRIES IN THE WORLD WITH THE 13TH LARGEST SOVEREIGN WEALTH FUND, THE FUTURE FUND.
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KUALA LUMPUR TEAM
As capital of Malaysia, Kuala Lumpur is a centre for economic growth and one of the most dynamic and vibrant cities in the world. Home to hundreds of multinational corporations and an international transport hub, the city acts as a strategic and important gateway to the entire Southeast Asia region.
Led by Lousia Poh, 90 North Kuala Lumpur serves as an equity office, linking the transaction teams in the USA, UK, Continental Europe and Australia to the equity base in Southeast Asia and beyond.
Our focus is on developing and fostering existing and new relationships with investors and clients.
As an equity office, we connect institutional investors and advisers representing clients wanting to invest overseas with the best opportunities in the international real estate market.
There is a strong appetite in the region for growing the Islamic fund and wealth management business.
90 North believes it can draw on its experience in Shari’ah compliance and success in the Middle East to become the leading adviser for Islamic real estate investment in the region.
Established in 2015, our Malaysia representative office is located next to the Petronas Towers in downtown Kuala Lumpur. The city is the gateway to Southeast Asia and the regional capital of Islamic Finance.
2SECOND ONLY TO
SAUDI ARABIA FOR ISLAMIC ASSETS
UNDER MANAGEMENT
90 North supports British Malaysian Chamber of Commerce Management Programme 201730
Louisa PohChief Representative, Malaysia Representative Office
Louisa is a specialist in Islamic finance. She has over 20 years experience in auditing and investment banking with expertise in real estate, debt capital markets, project finance and corporate finance, and across the London and Southeast Asian markets.
At 90 North she focuses on developing and nurturing new investor and client relationships within the Southeast Asian market.
" Kuala Lumpur is the heart of Malaysia and arguably the most important strategic gateway to Southeast Asia."
Downtown Kuala Lumpur
3131
London91 Wimpole StreetLondonW1G 0EFUK
T: +44 (0) 20 7399 6787
Chicago155 North Wacker DriveSuite 4250Chicago IL 60606USA
T: +1 312 803 6963
Kuala LumpurRepresentative OfficeLevel 26, Menara MaxisKuala Lumpur City Centre50088 Kuala LumpurMalaysia
T: +603 2615 2633
SydneyLevel 36, Gateway Tower 1 Macquarie Place Sydney, NSW, 2000 Australia
T: +61 2 8051 3073
Disclaimer: The information provided in this corporate overview is not directed at or intended for use by any person resident or located in any jurisdiction where the distribution of such information is contrary to the laws of such jurisdiction, or such distribution is prohibited without obtaining the necessary licenses or authorisations. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the content. The information contained in this corporate overview is for informational purposes only, and should not be regarded by recipients as a substitute for the exercise of their own judgment. When making a decision about your investments, you should seek the advice of a professional financial advisor. No representation or warranty of any kind, either express or implied, with respect to the content is made. Copyright © 2019 90 North Real Estate Partners LLP.
CONTACTS
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