Press Articles
Press: Minnow positioned for bigger things, says MD
Nick Lenaghan, AFR, 20 February 2013
Mr Paramor, a former Mirvac chief, also closed Folkestone's first property syndicate oversubscribed, with the acquisition of a $29.25 million office building at Sydney's Olympicf Park.
Click here to download the full article
Press: Restructured Folkestone prepares for first Karratha residential settlements
Larry Schlesinger, Property Observer, 20 February 2013
Real estate funds manager, investor and developer Folkestone will shortly secure settlement on the sale of 41 dwellings in the first stage of its key Karratha residential development The Ranges.
Click here to download the full article
Press: Australian supers opting for social infrastructure
IP Real Estate Magazine
Australian superannuation funds are moving into social infrastructure as an alternative to traditional real estate despite a lack of familiarity or available assets, according to Nick Anagostou, chief executive of social infrastructure funds at specialist property fund manager Folkestone.
Click here to download the full article
Press: Folkestone seeks social assets
Nick Lenaghan, The Australian Financial Review, 17 October 2012
"Fund manager Folkestone is looking to expand into childcare and healthcare property after winning control over Austock's $555 million property platform. The Austock acquisiton creates significant opportunities in the transformation under way at Folkestone, led by Greg Paramor. In his presentation to investors, Mr Paramor outlined the benefits of social infrastructure, including its long leases, low correlation to other property classes and secure and often government-backed cash flows."
Click here to download the full article
Media Release: Folketone Launches New Unlisted Real Estate Income Fund
Folkestone's (ASX:FLK) real estate funds management subsidiary, Folkestone Funds Management announced today the launch of the first in its series of real estate income funds, the Folkestone Real Estate Income Fund at Sydney Olympic Park (the Fund).
The Fund will acquire the leasehold land at 7 Murray Rose Avenue, Sydney Olympic Park together with the work to date and fund the remainder of the construction works and own the completed building long term. The six level commercial building, currently being built by FDC Construction and Fitout Pty Ltd, comprises five levels of office and ground floor retail with basement car parking, is located in one of Sydney's newest and most vibrant office markets, Sydney Olympic Park.
Click here to read the full media release
Press: ASIC dogged in its pursuit of unlisted property transparency
James Frost, The Australian, 29 March 2012
"Adrian Harrington, Head of Funds Management at Folkestone, welcomed the increased disclosure proposed by ASIC."
Click here to download the full article
Press: Folkestone Drifts Along At Calmer Pace
Gretchen Friemann, Australian Financial Review, 27 October 2011
"Compared with the stormy scenes at a shareholders' meeting last March, Folkestone's annual general meeting yesterday turned out to be a civilised and subdued affair......Paramor pointed out that Folkestone had plenty of cash on its balance sheet after a $31 million equity raising, and was eagerly combing the market for potential acquisitions. In eight months since Mr Paramor has been at the helm, the company has looked at 41 seperate real estate purchases and six possible takeovers of funds management platforms."
Click here to download the full article
Press: Paramor has plans at Folkestone
Andrew Main, The Australian, 31 March 2011
"SYDNEY property veteran Greg Paramor is looking forward to his fourth company-building adventure, taking control of the thoroughly Melbourne Folkestone Group after a noisy proxy battle."
Click here for the full article
Press: Much ado about an ailing minnow
Robert Harley, The Australian Financial Review, 7 March 2011
Click here for the full article
Press: Response to inaccuracies in relation to the EREP Proposal
EREP, 3 March 2011
"Unfortunately we are concerned that there is a risk that Shareholders will be denied the opportunity to make an informed decision as a result of being misled by inaccuracies and misrepresentations in information sent to them by the long-time shareholders backing the Bell Potter Proposal - Thorney Holdings Pty Ltd ("Thorney") and Wilbow Group Pty Ltd ("Wilbow"). The purpose of this letter is to address material errors in that information.
Click here for the full letter
Press: Folkestone fight
John Durie, The Australian, 2 March 2011.
Click here to read the full article
Press: In firing line
Scott Rochfort, Business Day SMH, 2 March 2011.
Click here to read the full article
EREP press article mailout
EREP, Februay 2011
Press: Games Folkes play
John Durie, The Australian, 26 February 2011
"...At this stage we could all stand and cheer, but we should ask: given the past performance, just why have they bothered, just how minority shareholders fare and just what is the future of a company whose governance record stinks and whose major shareholders have no apparent strategy for future growth."
Click here to read the full article
Press: Shareholders go to war for control of Folkestone
Mark Hawthorne, The Age, 26 February 2011
"...A shareholder meeting to settle the mess was scheduled in Melbourne this week, but was cancelled by company chairman Alister Maitland. There have been grumblings that the meeting was called off when it appeared the Paramor camp had the numbers."
Click here to read the full article
Press: Control of Folkestone could change without offer to all Shareholders
Bryan Frith, The Australian, 25 February 2011
"...EREP's proposed placement is a plus because it would introduce new shareholders and create greater market liquidity, whereas the Bell Potter alternative would maintain the existing concentrated ownership and poor market liquidity. That [Bell Potter Proposal] smacks of a transaction which could see control of the company change hands without a takeover offer to all shareholders, and which might interest the Takeovers Panel."
Click here to read the full article
EREP letter to shareholders
EREP, 24 February 2011
Press: Bidding war for Folkestone
Nick Lenaghan, Australian Financial Review, 22 February 2011
Click here to read the full article
Press: Paramor Primes Folkestone Pitch
17 February 2011 - Australian Financial Review
"Property veteran Greg Paramor has made a forceful pitch to Folkestone Investors one week before they decide whether to hand him control of their tiny loss-maker."
Click here for full AFR Article
EREP letter to shareholders
EREP, 14 February 2011