Fund overview

The US Masters Residential Property Fund is an ASX listed Real Estate Investment Trust (REIT) focussed on New York metropolitan area residential housing. With approximately $1 billion in assets and over 1,500 free-standing and multi-dwelling housing units, the Fund is the only ASX listed REIT with a primary strategy of investing in US residential property in the New York metropolitan area.

Investment objective and strategy

The Fund’s objective is to provide investors with attractive returns across market cycles through exposure to a diversified portfolio of New York metropolitan area residential housing.

The Fund seeks to invest in undervalued neighbourhoods experiencing growth and gentrification in the New York metropolitan area, specifically Hudson County, New Jersey, and Brooklyn, Manhattan, and Queens, New York.

The Fund’s strategy regarding freestanding properties is to:

  • Acquire houses (typically one to four family dwellings) in select neighbourhoods throughout the New York metropolitan area at attractive valuations.
  • Restore and renovate the properties to the highest standard.
  • Maximise rental income by providing tenants with exceptional property management services.

The Fund’s strategy regarding multi-dwelling properties is to:

  • Invest in small and medium sized properties, typically with 20 to 100 units, which generally fall below the size threshold of large institutional investors but outside the financial scope of individual investors or local groups.
  • Renovate apartments and common areas, improve landscaping, and upgrade building systems to generate attractive rental income long-term capital growth.

*Past performance is not a reliable indicator of future performance

Risks

Like all investments, an investment in the Fund carries risks which may result in the loss of income or principal invested. In addition to the general risks of investing, specific risks associated with investing in the Fund include, but not limited to, property market risk, taxation risk and foreign exchange risk. For further information about the risks of investing in the product see Section 5 of the PDS.

Fund facts and performance

Inception date

June 2011

ASX listing date

July 2012

ASX ticker

URF