The Coorparoo Residential Opportunity Fund was a registered managed investment scheme which purchased an existing underutilised tenanted asset identified as having potential for capital growth through residential redevelopment opportunities.
The Property had the benefits of an existing rental income with the potential for capital growth.
Being located in a high density residential zone, the potential was identified to re-develop the site as a medium rise residential complex comprising 275 units over 12 storeys.
The trust asset was sold in June 2015 generating a strong return on equity investment with the opportunity seized for a fast transaction which provided financial uplift for the group.
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Real People
Introducing Ross Stiles
INDEPENDENT DIRECTOR & CHAIRMAN – CFMG CAPITAL LTD
In 1998, Ross was a founding partner and Managing Director of ASX Top 200 company Cromwell Corporation Limited (ASX Code CMW), now known as Cromwell Property Group, and managed and directed the growth of the Company, now one of Australia’s largest Real Estate Investment Trusts with a market capitalisation of more than $2 billion, and total assets under management of $11.2 billion.