Announcements

MAB Funds Management currently manages two property investment funds and has established a successful track record in managing property assets throughout Australia, New Zealand and the United States.

Date
07/03/2017
MAB Funds opens Offer of units in MAB Corporation Syndicated Loan Fund 2

MAB Funds has today announced that it has opened the offer of units in the MAB Corporation Syndicated Loan Fund 2. MAB Corporation Pty Ltd (MAB Corp) is seeking to raise approximately $15.5 million, to provide working capital for its operations. MAB Funds as the Responsible Entity of the MAB Corporation Syndicated Loan Fund 2 proposes to raise this amount from investors in the Fund which will be provided by way of loan to MAB Corp.

The Offer closes on 28 April 2017 or when otherwise determined by MAB Funds.

21/08/2015
MAB Diversified Property Trust to Sell Cowra Plaza

MAB Funds has today announced that it has entered into an unconditional contract for the sale of Cowra Plaza, a neighbourhood shopping centre in Cowra, NSW.  The property was marketed by agents, Knight Frank, and is to be sold to a private investor for a  price of $5.9 million. Settlement is scheduled for 20 October.0

Cowra Plaza was purchased by the Trust in 2004 and comprises a Coles supermarket, Reject Shop and 11 specialty shops including ANZ, Millers and Telstra . The building, originally constructed in 1924 as a Reid Smith Department Store, was modified in 1988 and extended and refurbished in 2000. It has a gross lettable area of 3,880 sq.m. and decked parking for 220 vehicles.

03/03/2015
MAB Diversified Property Trust sells Parramatta Offices

MAB Funds has announced that it successfully concluded the sale of an office building 3 Horwood Place, Parramatta NSW, yesterday.

3 Horwood Place was sold for $25.4 million to an institutional investor. The building was purchased by the Trust in 2005 for a price of $21.25 million. The building comprises three levels of parking for 94 cars, ground level retail and 6 levels of open plan office space. The building was constructed in 2001 and has a gross lettable area of 5,045 sq.m. The building is occupied by a mix of tenants, including companies such as One Steel and Clearview Wealth.

31/03/2014
MAB Diversified Property Trust sells Mornington Village

MAB Funds has announced that it has successfully concluded the sale of Mornington Village Shopping Centre Victoria.

Mornington Village was settled today for a sum of $25.8 million. The Trust purchased the property in October 2004 for a price of $17.4million. Mornington Village is anchored by a Woolworths supermarket and by Aldi. The Aldi store was constructed by the Trust in 2012.

27/11/2013
MAB Funds delivers at The Quays

MAB Funds has successfully completed its Quays Mezzanine Fund ahead of schedule and with solid returns.

General Manager Funds Management Nick Gray said The Fund provided a Mezzanine loan to MAB Corporation’s Quays residential development at NewQuay, Docklands.

“The Fund was launched in March 2012 and completed in late November 2013,” said Mr Gray. “The Fund was a success, proving a profitable venture for the investors with an internal rate of return of more than 20 percent.”

The Mezzanine Fund attracted a mix of high net worth investors, self- managed super funds and family offices.

09/08/2013
MAB International Retail Trust sells Charleston property

MAB Funds today announced the sale of Summerville Plaza, Charleston, South Carolina for a price of $US17.1 million. The Trust purchased the property in 2006 for a sum of $US11.85 million. The Trust secured a pre-lease for a new Harris Teeter supermarket to replace the Piggly Wiggly supermarket  following its lease expiry.

25/05/2012
MAB Diversified Property Trust sells New Zealand Properties

MAB Funds has announced that it has successfully concluded the sale of the two New Zealand assets of the MAB Diversified Property Trust.

Trafalgar Square Shopping Centre in Wanganui was settled on 14th May for a sum of $NZ$18.69 Million. The Trust purchased the property in 2005 for $NZ 14.00 million. Trafalgar Square is anchored by Countdown supermarket and The Warehouse discount department store and has 19 specialty shops. A separate Rebel Sports store was added in 2006.

The Plaza in Hastings was settled on 21st May for a sum of $NZ18.5 million. The Trust purchased the property in March 2005 for $NZ 17.45 million. The Plaza is anchored by a K-Mart discount department store and has three mini-major stores and eight specialty shops.

30/03/2012
MAB Quays Mezzanine Finance Fund

MAB Funds has launched its second mezzanine debt fund, the MAB Quays Mezzanine Fund. The fund is seeking to raise $26.0 million from investors which will be utilised to make a loan to the developer of The Quays project at NewQuay in Melbourne Docklands. The loan will be secured by a second ranking mortgage at a loan to value ratio of between 72 to 85%.

The Quays will be MAB’s twelfth major project at Docklands and represents the final piece of New Quay’s eastern waterfront.

The Quays has been designed by internationally renowned architects, McBride Charles Ryan who were briefed to create an iconic piece of architecture, to maximise the natural site advantages and to create great contemporary apartments.

The towers will share a common Podium consisting of 96 apartments, 539 car parks and around 1000m2 of retail space.  The South tower will contain 275 apartments over 32 levels.  The North tower will contain 246 apartments of 27 levels.

The facilities are to include a 25 metre pool, gymnasium, sauna, spa, yoga rooms, conference facilities and a fully equipped residents lounge.  The Podium rooftop will incorporate a tennis court, club rooms and gardens.

20/02/2012
MAB Funds Management delivers at HarbourOne

MAB Funds has successfully completed its HarbourOne Mezzanine Finance Fund ahead of schedule and with solid returns.

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28/12/2010
MAB Harbour One Mezzanine Finance Fund Offer Closes

MAB Funds has successfully completed its HarbourOne Mezzanine Finance Fund ahead of schedule and with solid returns.

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28/12/10
MAB Harbour One Mezzanine Finance Fund Offer Closes

MAB Funds successfully completed a capital raising for the offer of units in MAB Harbour One Mezzanine Finance Fund on 15th October 2010.  The offer was oversubscribed.

18/11/2008
MAB's Bourke Street Trust Excels with $23.64 Million Sale Amidst Turbulent Times

MAB Funds Management Limited (MAB Funds) has put more runs on the board, for its successful property funds business in a deal that is set to give investors at total return of around 21.5% per annum over the past six years, despite the current challenging market.

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01/07/2008
Limited Liquidity Facility Temporary Suspension

The Responsible Entity confirms that the Limited Liquidity Facility for MAB International Retail Trust has been suspended as the aggregate number of units held by the facility provider will exceed 9.95% of the total number of units issued in the trust.

The Responsible Entity is endeavouring to procure an alternative facility provider, however the Responsible Entity advises that the prospects of securing such is unlikely in the short term given current market conditions.

The Responsible Entity will notify investors upon reinstatement of the facility via website communication.

10/05/2008
Independent Property Valuations Support MAB's US Investment Strategy

A recent valuation by CB Richard Ellis for MAB Corporation’s US based fund MIRT (MAB International Retail Trust) resulted in a 3.8% increase over the initial 2006/2007 purchase prices – an excellent result for investors in light of the current environment.

Commenting on the valuation results, MAB Funds Management General Manager, Mr Nick Gray said “the results are particularly pleasing given the current environment where there is much speculation regarding the strength of the US economy and property market”.

28/03/2008
Limited Liquididty Facility

MAB International Retail Trust Suspension of Limited Liquidity Facility The Responsible Entity confirms that the Limited Liquidity Facility for MAB International Retail Trust has been suspended as the aggregate number of units held by the facility provider will exceed 9.95% of the total number of units issued in the trust. The Responsible Entity advises that the prospects of securing such is unlikely.

05/03/2008
MAB Bucks Offshore Investment Trends

While many Australian investors have shied away from offshore property markets in the aftermath of the sub-prime collapse, some regions of the US have bucked the trend of economic slow down and exposure to one such area has provided consistent solid returns for Australians invested with MAB’s International Retail Trust.

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17/09/2007
Los Angeles Expert Says US Property Market is a Strong Place to Invest for Australians

David Rosenthal, President of US-based MAB Rosenthal, has outlined the advantages of investing in the commercial property markets in the USA and the buying opportunities that exist for Australian investors.

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27/07/2007
New Senior Appointments to the MAB FM Team

Roger Phipps headlines several key senior appointments at MAB FM during a time of significant growth for the group.

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