Multiplex Prime Property Fund

Multiplex Prime Property Fund (Fund) is a Unit Trust listed on the ASX (ASX code: MAFCB), which owns an impressive portfolio of CBD office assets in Sydney and Melbourne. 

Key Features:

  • A portfolio of A-grade property assets (see below).
  • Diversified tenancy profile including the Victorian State Government, the Commonwealth Government of Australia, American Express and Ernst & Young.

Key Information - As at 30 June 2010

Listing date: 15 September 2006
Close date: Open ended
Fund size: $716.0 million
Distributions: Quarterly
NTA per unit: 0.42 cents per unit
ASX code: MAFCB
Portfolio Occupancy: 100%
Portfolio weighted average lease term: 6.2 years
Portfolio weighted average capitalisation rate 7.27%
Value of direct property portfolio: $585.0 million
Assets: Ernst & Young Centre and 50 Goulburn Street, Sydney
(50% interest valued at $262.5 million)
Southern Cross Tower, Melbourne
(25% interest valued at $137.5 million)
Defence Plaza, Melbourne
(100% interest valued at $58.0 million)
American Express Building, Sydney
(100% interest valued at $127.0 million)
Portfolio of investments in Listed Property Trusts
(market value approximately $5.2 million)
Fund gearing (including Partly Paid Facility)*: 80.6% at 30 June 2010 covenant testing date (covenant 85%)
Interest Rate: 98.8% hedged at a base rate of 5.68% (excluding margin) until June 2011
Debt Duration: 2 years with expiry December 2011 (both Term & Partly Paid Facilities)

* The Fund is in compliance with all debt covenants as at 30 June 2010.

 

Important Notice:

Past performance is no indication of likely future performance. All figures are unaudited unless otherwise indicated.