Blackwall Property Funds (ASX:BWF) and PrimaryMarkets today announced they had formed a strategic partnership which allows for trading of units in Blackwall’s 13 unlisted, property funds on PrimaryMarkets’ online platform.
Blackwall Property unitholders will now be able to utilise the recently launched independent global platform should they choose to exit their investment in the property trusts early, whilst new Blackwall offerings into their property trusts will be available for subscription on PrimaryMarkets.
PrimaryMarkets is a platform for the sale and purchase of unlisted securities and investments launched in Australia on 25th February 2016.
Blackwall Property Funds’ Chief Executive Officer, Stuart Brown, said:
“The partnership between Blackwall and PrimaryMarkets was already active with the offering for sale of units in two of our funds which we listed on PrimaryMarkets. We believe the relationship with PrimaryMarkets will be beneficial to our ongoing business. We are now able to provide an early liquidity event for our unitholders should they need it, while Blackwall now has access to a new group of wholesale/professional investors who have already indicated their interest in unlisted property funds,"
PrimaryMarkets‘ Chief Executive, Nicholas Capp said:
“Blackwall Property Funds is an excellent addition to the PrimaryMarkets platform, as it manages real estate on behalf of retail, high net worth and institutional property investors. Blackwall’s client base reflects PrimaryMarkets’ typical member profile, that of sophisticated wholesale or professional investors who are knowledgeable about financial markets, are sector focused, want integrity and privacy and accept risks for the appropriate reward.”
PrimaryMarkets’ offerings span areas including shares in private companies, unlisted property trusts through to creditor claims and mining tenements.
PrimaryMarkets Five Pillar Investment Coverage embraces Securities, Funds, Fixed Income, Commercial transactions and Direct Assets.
Read the Official ASX Announcement Here.
Helen McCombie
Citadel-MAGNUS
(02) 8234 0103
hmccombie@citadelmagnus.com
Courtney Howe
Citadel-MAGNUS
(02) 8234 0111
chowe@citadelmagnus.com
