MRA - Mariner America Property Income Trust

[bullmarket]

I have been reading through the current MRA (Mariner American Property Income Trust) prospectus this afternoon.

MRA are looking to raise funds to repay the mezzanine finance that was used to partially fund the purchase of two new properties.

MRA have four properties in the US with high quality tennants with long leases.

Forcast yield is 9%+. They also say the interest rate on 97% of total borrowings is fixed for 5 years and currency hedges have also been entered into that substantially protect 93% of forcast distributions against USD/AUD movements for about 5 years.

Overall looks encouraging and I will look further into MRA but 1 downside for me personally that sticks out is that they have only 4 properties in their portfolio.

I doubt I will rush into the offer but they are definitely on my watchlist. There are mixed views on the outlook for various types of property in the US atm.

Anyway, just food for thought for anyone looking for an income investment.

cheers

bullmarket

 

[Julia]

I have been reading through the current MRA (Mariner American Property Income Trust) prospectus this afternoon.

MRA are looking to raise funds to repay the mezzanine finance that was used to partially fund the purchase of two new properties.

MRA have four properties in the US with high quality tennants with long leases.

Forcast yield is 9%+. They also say the interest rate on 97% of total borrowings is fixed for 5 years and currency hedges have also been entered into that substantially protect 93% of forcast distributions against USD/AUD movements for about 5 years.

Overall looks encouraging and I will look further into MRA but 1 downside for me personally that sticks out is that they have only 4 properties in their portfolio.

I doubt I will rush into the offer but they are definitely on my watchlist. There are mixed views on the outlook for various types of property in the US atm.

Anyway, just food for thought for anyone looking for an income investment.

cheers

bullmarket

bullmarket:

I received the blurb about this too - from Aurora Funds Management who somehow have me on their mailing list.

You have offered for yourself the standout negative in this property trust:
ONLY FOUR Properties! I wouldn't touch it in a fit. You can get the same return with a good old Oz property fund, e.g. Australand for one.

To use your own expression, 'good luck in your endeavours' if you take this one up.

Julia

 

[nizar]

Bullmarket

For good income, what do u think of the offerings by Rubicon (USA and Europe)... ?

Spark Infrastructure also looks good with yield of 11%+.... 14.22cps is the forecast distrubution for 2006 and u can pick up the shares for around 1.20....