Charter Hall Prime Retail Fund ('CPRF')

CPRF strategy is to become a pre-eminent Wholesale fund focused on the acquisition, management and redevelopment of high quality and local catchment dominant convenience based non-discretionary retail centres across Australia.

Investment Details

  • Cornerstone Investor represented by JGS
  • 62% of units held by JGS client and 38% by Charter Hall (CHC)
  • Seed asset is Campbelltown Mall c. $200m
  • NLA 42,000 sqm
  • Anchored by Woolworths, Coles, ALDI, K-mart & Target
  • CPRF has a Core Strategy targeting 10% IRR and further properties are being sourced
  • 2 further assets added mid 2018
  • Total investment $150m

Relationship Benefits

  • Secured cornerstone investment position in a new retail property fund as a result of on-going discussions with CHC for potential capital partnering opportunities in the retail property sector
  • Manager wanted to deal with ‘property people’ and investment was structured so that JGS Property maintains a position on the CPRF Investment Committee

Key Disciplines

  • Property Advisory
  • Property Investment
  • Market knowledge aided comprehensive, rapid due diligence
  • Multiple resources deployed for asset, governance, manager and documentation reviews to be completed in unison

Learning Outcomes

  • Maintaining relationships with larger fund managers can provide opportunities to invest no offered to the wider wholesale investor market
  • Ability to make investment decisions promptly but with due care enhances investor reputation