(Sydney, Australia) EG Funds Management (EG), one of Australia’s leading real estate fund managers, is excited to welcome Tasplan Superannuation Fund as an investor in the High Income Sustainable Office Trust (HISOT) with a $50 million commitment.
HISOT’s investment philosophy is to invest in Australian real estate where active asset management strategies can be implemented to deliver attractive risk adjusted returns and energy efficiency improvements. The fund targets office assets with low National Australian Built Environment Rating System (NABERS) energy ratings with opportunities for repositioning.
“EG is pleased to have the opportunity to further diversify the fund through the acquisition of 2-3 new assets. We believe that older building stock offers great opportunities for balancing sustainability with commercial returns.” Michael Noblet, Associate Director, Capital Transactions said.
The fund, which was launched in 2016, is supported by investors such as the Clean Energy Finance Corporation (CEFC), Uniting Financial Services and Deakin University.
“Tasplan is excited to invest in a fund that is delivering a strong investment return for our members whilst making a meaningful positive impact to the environment”. Wayne Davy, Chief Executive Officer, Tasplan.
Tasplan manages the investments of 138,000 members nationwide and holds over $9.2 billion in funds under management.
As a result of Tasplan’s commitment, a cornerstone investor, CEFC has committed a further $25m to the fund.
CEFC Investment Funds Lead Rory Lonergan added: “This is another important milestone for HISOT. We are delighted to see this additional investment from Tasplan which will support innovative projects to lift the energy efficiency of existing buildings, extending their life as well as cutting their carbon footprint.”
In its three years since establishment, HISOT has acquired three assets, East Block, Canberra, 42 Macquarie St. Canberra and 95 North Quay, Brisbane. Founded in 2000, EG is a real estate investment manager and developer actively investing to deliver sustainable outcomes that outperform market returns.