Folkestone is a real estate investment, development and funds management company which listed on the ASX in 2000. In March/April 2011, Folkestone acquired Equity Real Estate Partners and a new management team and board were appointed. At the same time, in order to recapitalised and reposition the Company, Folkestone successfully raised $31.5 million.
Folkestone is an integrated real estate group with the ability to pursue a diverse range of Australian real estate opportunities across:
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investment types: such as direct investment, joint venture investments and co-investing in Folkestone managed funds;
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capital structures: ordinary equity, preferred equity and mezzanine debt; and
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sectors: office, retail, industrial, residential and social infrastructure.
The Board and senior management have an extensive network of contacts within the Australian real estate industry that positions Folkestone with strong capabilities to source a diverse range of attractive investment opportunities.
Folkestone's on balance sheet activities ("Direct Investments") will focus on value-add and opportunistic investments including:
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acquiring development opportunities on attractive terms;
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partnering with developers to provide funding for quality real estate projects; and
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investing in preferred equity or mezzanine loans secured by real estate assets.
The Board and senior management have an extensive network of contacts within the Australian real estate industry that positions Folkestone with strong capabilities to source a diverse range of attractive investment opportunities.
Folkestone's funds management platform will offer funds to private clients, high net worth individuals and select institutional investors across the risk-return spectrum (core, value-add and opportunistic).
The mix of capital allocated to Folkestone's balance sheet and funds management activities may vary from time to time in order to take advantage of select investment opportunities that meet strategic and financial return hurdles.
The focus of Folkestone's investment strategy will be on delivering capital growth for Shareholders. Folkestone will target an after-tax return on equity of 15% per annum on a rolling three year basis once the proceeds from the recent capital raising are fully deployed.