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Elanor Investors proposes REIT IPO

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Elanor Investors proposes REIT IPO

Elanor Investors Group is preparing for an initial public offering and ASX listing of the Elanor Commercial Property Fund.

As part of the IPO, the fund will acquire 200 Adelaide St., in Brisbane, and the 49% interest not already held by the fund in 202 Pier St., in Perth.

Upon completion of the IPO, the fund will own six investment-grade commercial properties worth roughly A$306 million. It intends to buy more investment-grade offices over time.

Elanor Funds Management Ltd., the responsible entity for the fund, aims to lodge a Product Disclosure Statement with the Australian Securities and Investments Commission for an offer of securities in early November 2019.

Elanor Investors Group is an investment and funds management business focused on hotels, tourism, commercial office and retail real estate.