PWG - Primewest Group

[System]

Primewest is one of Australia's leading private real estate funds management businesses. It manages a range of unlisted property syndicates and funds on behalf of wholesale and institutional investors.

Primewest operates in the real estate funds management sector. This involves sourcing, acquiring, managing and disposing of real estate assets on behalf of investors. Real estate funds management is attractive to private high net worth and institutional investors because it allows for investors to acquire an interest in larger assets or diversify their investment exposure. These options may not be available if an investor was investing directly.

Primewest primarily generates revenue through fees charged to the Funds that Primewest manages. These fees include:

• asset management fees;
• property services, including:
  – leasing fees;
  – development management fees;
  – finance fees;
• transactional fees which include establishment fees earned on the acquisition of new assets and sales fees on the disposal of assets; and
• performance fees.

It is anticipated that PWG will list on the ASX during November 2019.

https://primewest.biz

 

[Dona Ferentes]

soon to inherit another challenge
Vitalharvest Freehold Trust Vitalharvest (VTH) is an agricultural real estate investment trust (REIT). It owns citrus and berry farms which are leased to Costa Group Ltd. The current setup is that Vitalharvest earns two types of rent. It earns a fixed amount of rent from its farms, there is also a fixed return for any improvements made to the farms. However, Vitalharvest also has a profit-share agreement with Costa at the Vitalharvest farms. There has been some difficulties at the farms recently, which has hurt the variable earnings and sentiment.

But things could soon improve for Vitalharvest after it was announced that Primewest Group Ltd (ASX: PWG) had acquired the management rights of Vitalharvest. Primewest is a property manager that manages $4.1 billion of assets across a number of sectors. Primewest has also acquired an 11.8% interest of Vitalharvest.

Vitalharvest will be renamed Primewest Agri-Chain Fund. It will invest in agriculture property and other assets that are critical to the agricultural supply chain like processing and manufacturing facilities for food, food and beverage packaging facilities and storage facilities related to food. It will be looking for long-term tenants and it will target high quality locations throughout Australia and New Zealand.

 

[bigdog]

It's a property funds management business. It's based out of Perth, a little bit off the radar; under-researched, under-covered, illiquid. It's 80% owned by its founders; very entrepreneurial guys with vast property experience. What I really like about this story is how it has built its funds under management. So this is a fund manager that invests across property in syndicates and wholesale mandates. It's built its funds under management from $2 billion up to about $5 billion in the last couple of years, so very, very strong growth.

 

[System]

On June 29th, 2021, Primewest Group Limited (PWG) was removed from the ASX's Official List in accordance with Listing Rule 17.4, following despatch of compulsory acquisition notices by Centuria Capital Limited.