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US Masters closes preference unit issue with A$200M applications

US Masters Residential Property Fund said its responsible entity's offering of A$300 million of convertible step-up preference units has closed with approximately A$200 million of applications.

The units, which were issued by Walsh & Co. Investments Ltd. and priced at A$100 apiece, are expected to be issued on or around Dec. 22, with listing on the Australian Securities Exchange to take place Dec. 28.