Investor Presentaiton
Investec
Australia Property Fund
Transaction framework
Independent Board
Committee
Independent Expert
Conditions
Structure
TAP Fund
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The Independent Directors have formed a sub-committee to assess the Proposal
A strict governance and information sharing protocol was adopted to ensure independent consideration of the Proposal
The Independent Directors appointed Deloitte Corporate Finance Pty Limited to prepare an Independent Expert's Report
In order for the Proposal to proceed, an ordinary resolution must be passed by a simple majority of votes cast by Unitholders entitled to vote at the
Meeting scheduled for 5.00pm (Sydney time) / 8.00am (Johannesburg time) on Tuesday, 17 November 2020
The Proposal is also conditional on (among other things) regulatory approvals and third party consents being obtained
IAPF II will acquire the shares in IAPH, which is the holding company of the Responsible Entity, the Manager and certain other entities that are
involved in the management of IAPF (through this acquisition, IAPF II will acquire the management rights of IAPF I)
If approved, the Proposal will create a stapled entity incorporating a funds management platform which is initially focused on the management of the
TAP Fund
The TAP Fund is an unlisted Australian opportunity fund launched in December 2019
It seeks to invest in opportunistic real estate transactions in Australia and New Zealand with a shorter-term investment horizon than more passive
investments, including value add and real estate backed debt opportunities which require more active management
• The TAP Fund is intending to raise $300 million to deliver on its strategy
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To date the TAP Fund has received binding, firm commitments from investors of $140 million (including a binding commitment from IAPF II
to invest up to $30 million and a binding commitment from Investec Group to invest up to $10 million)
The current investments of the TAP Fund comprise¹:
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the Metro Northcote Investment, which is a mezzanine debt loan for the development of a residential townhouse project in Victoria
(representing a $13.5 million project commitment); 2 and
the KPG1 Investment, which is a senior debt loan provided for the development of a self-storage asset in Queensland (representing a $7.5
million project commitment)
1. Three further investments have received investment committee approval. 2. Completion of this investment is expected to occur prior to implementation of the Proposal.
Investec Australia Property Fund | Internalisation and funds management proposal
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