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Jasper Exits its First Investment, Delivering an IRR of 20.3%

Jasper Exits its First Investment, Delivering an IRR of 20.3%

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.

Vernon Sequeira - Jasper

Vernon Sequeira

Investment Manager

Posted on 4 Nov 2021

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Read Important Disclosures

Important Disclosures

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).

Risk of Loss: Investing in commercial real estate involves a high degree of risk and may result in partial or total loss of your investment. We encourage our investors to invest carefully. We also encourage investors to get personal advice from your professional investment advisor and to make independent investigations before acting on information that we publish.

No Personal Advice: Jasper does not provide personal advice or recommendations. The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. It is important for you to consider these matters and to seek appropriate legal, tax, and other professional advice before making a decision.

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.

FSPR No. 692011. Information on this page is based on information available to us as of the date of posting and we do not represent that it is accurate, complete or up to date.