Ms Jenny Saliba, Executive General Manager Finance & Commercial, Wealth & Capital Markets, Australian Unity, said ASA Real Estate Partners was selected because of the team’s considerable expertise in managing retail, business park and industrial assets.

“DPF unitholders will benefit from the management of a highly specialised and focused team with deep experience and a proven track record in retail funds management and commercial real estate investment”, she said.

Ms Saliba said the sale of AUPL and transfer of management rights for DPF was in line with Australian Unity’s long-term strategy.

Tim Slattery, Managing Partner, ASA Real Estate Partners, said ASA has a compelling unitholder value proposition for its future management of DPF— including growing value and liquidity for investors.

“ASA offers investors an experienced team with specialist expertise and a track record of delivering strong risk-adjusted returns in Australian real estate funds management.” he said.

“We believe the DPF portfolio provides a strong foundation to navigate the current environment and generate value for unitholders.

“We are wholeheartedly optimistic for DPF’s future and are looking forward to working with Jonathon Senior and the DPF team, advisors and investors following the Fund transition.

“As a highly active manager we seek to add value at the acquisition, management, financing and exit stages of commercial real estate investment”, Mr Slattery said.

Under the terms of the transfer for DPF, ASA has committed to provide a secondary liquidity opportunity for DPF unitholders, at market value, of up to $10 million (in addition to existing DPF liquidity arrangements which are not affected by the Fund Transition).

To support a smooth transition of DPF’s management, ASA and AUL have agreed to work together on transitional arrangements for the Fund for the period to 30 June 2024.

-ENDS-

Contact:
Australian Unity
Penny Bold
T: 0400 567 937

Notes to editors:
The transaction does not include other funds managed by Australian Unity.

About Australian Unity
Established in 1840, Australian Unity is a member-owned wellbeing company with more than 385,000 members and more than 700,000 customers. Our range of health, wealth and care products and services provides member, customer and community value that is supportive of personal and community wellbeing.

About ASA Real Estate Partners
ASA Real Estate Partners was established by former executives of APN Property Group and Dexus, Chris Aylward, Tim Slattery and Alex Abell. Collectively they have over 90 years of combined real estate experience, and demonstrated capability in investment management, raising debt and equity capital, asset management and leasing, property management and development.