Nov. 25, 2021: Jasper, the tech-led commercial real estate fund manager, has exited its first investment, the Holmes Road Industrial LP, returning capital to investors while delivering a net IRR of 20.3% p.a.
Established in October 2019, Holmes Road Industrial was Jasper’s first investment opportunity, made available to wholesale investors through its digital platform. The offer was popular with investors and was fully subscribed within 48 hours of release.
Jasper’s original business plan for Holmes Road Industrial was to acquire a well-located industrial asset supported by strong market tailwinds, targeting a long-term hold. However, due to market changes brought on by COVID-19 and lockdown restrictions, Jasper had to relet 80% of the property, replacing the main tenant and bringing four new occupiers to the site. Jasper then received an unsolicited off-market offer at a record yield for the surrounding area, and the limited partners decided to divest the property and wind up the partnership.
The transaction was settled on the 29th of October, 2021. The distribution of net cash proceeds from this investment has resulted in a 20.3% IRR and 1.4x multiple of invested capital after fees.
Jasper Co-CEO Mark Campbell commented, ”Holmes Road Industrial was acquired as an attractive and stable long-term investment opportunity for Jasper investors as a fully let, high-quality property in the industry’s strongest asset class. The COVID-induced departure of the primary tenant and an unsolicited offer presented an excellent liquidity opportunity for investors to realise a range of value-add work and leasing activity at the asset. The result is an excellent outcome for the investors in our first scheme.”
About Jasper: Jasper is a technology-enabled real estate fund manager based in Auckland, NZ. Jasper provides investors with access to private market investments typically reserved for the ultra-wealthy, providing a better user experience, improved liquidity, and lower fees. Established in 2019, Jasper now has over NZ$300 million of assets under management.
Posted on 4 Nov 2021
Our expertise in acquiring and managing real estate assets, combined with our proprietary technology, helps us generate strong risk-adjusted returns for a diverse range of investors.
Jasper is an experienced operating partner for family office and institutional investors wanting access to high-conviction real estate strategies across Australia and New Zealand. We co-invest alongside our partners in each joint venture.
We are proud of our track record and relationships with some of the biggest names in real estate, including Blackstone.
We provide private investors with curated opportunities, low minimums, transparent reporting and improved liquidity. All available through our secure online portal.
We manage the entire investment process for you from start to finish; you sit back and enjoy direct commercial property ownership and the passive income it can provide.
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Liquidity Not Guaranteed: Jasper offers secondary market functionality on its platform from time to time, however, there is no guarantee that you will be able to exit your investments on the secondary market or at what price an exit (if any) will be achieved.
Performance Not Guaranteed: Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this website will be profitable, or equal any corresponding indicated historical performance level(s).
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Wholesale Offers: Jasper currently only offers financial products to wholesale (or other qualifying) investors. Jasper does not currently hold a Managed Investment Scheme (MIS) license and our products are not suitable for retail investors.
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