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360 Capital plans listing of Australia's 1st mortgage trust

360 Capital Group is planning to list its 360 Capital Mortgage REIT on the Australian stock exchange within 2018, which will make it the bourse's first mortgage trust, The Australian reported, citing Managing Director Tony Pitt.

Noting that the group's lending activities could reach A$500 million in 2018, the company has closed real estate investment debt deals in the A$5 million and A$50 million range, with terms of 12 to 18 months. 360 Capital is also partnering with commercial banks for loans that could yield 13% to 20% in total returns, the paper reported.

Pitt was quoted as saying that the platform will provide high net worth and private equity investors with access to "discrete mandates and one off debt transactions" in Australia, where there are no local mortgage trusts, according to the March 1 report.

Investments banks have also reached out to 360 Capital for roles in the trust's listing, The Australian reported.