An unlisted property investment fund established to develop a portfolio of sixteen residential homes to be leased to Identitywa, an agency of the Catholic Archdiocese of Perth.
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Now fully subscribed, this Fund presented Investors with an exciting opportunity to invest in a portfolio of high quality, contemporary homes located across metropolitan Perth at a cost base that is less than market value. Designed and constructed in accordance with the Specialist Disability Accommodation (SDA) Design Standards, the houses will provide better quality accommodation for people currently supported by Identitywa.
Jarra and Identitywa worked collaboratively to select property locations and design the homes to be developed by the Fund. With construction commencing in January 2025, the sixteen homes are located across eight Perth metropolitan suburbs. With Perth’s residential property market experiencing double digit price growth over the past 18 months, we maintain a positive medium-term outlook for the Fund, amidst growing population and ongoing residential land supply constraints.
1.76x
Equity Multiple
14%
Projected Investment IRR
5-year
Investment Term
$12m
Equity Raise
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Jarra Investment Trust Twenty Eight
Prior to investment, Jarra structured the Fund so that a number of key project milestones were satisfied to reduce the Fund’s exposure to development related risk.
Satisfactory due diligence, a lease commitment from Identitywa and acceptable construction costings were all prerequisite milestones achieved prior to investment. This structure mitigates and limits the Fund’s exposure to development-related risks.
SDA property values are closely linked to the residential property market. We favour the medium-term outlook for Perth’s residential property market relative to other Australian capital cities due to the city’s strong population growth coupled with constrained housing supply. The houses are located in established Perth suburbs of varying demographic profiles.
Identitywa is an established care provider, employing over 500 staff and caring for approximately 400 Western Australians living with a disability and their families. The houses are being developed to provide better quality accommodation for people currently supported by Identitywa.
The Fund’s stabilised running yield and IRR are enhanced as the houses are developed at a cost less than their estimated completion market value. The investment is projected to deliver returns to Investors of 14% IRR over the investment term, with annual income distributions of 10% p.a. upon lease commencement.
Identitywa, an agency of the Catholic Archdiocese of Perth, will enter into a 10-year lease with a further two (2) x 5-year options for the houses once they are constructed. Binding lease commitments were in place before each property was introduced to the Fund.
Jarra is a specialist property developer and investment manager with a strong track record of successfully delivering SDA and commercial property developments. The Fund is our fifth SDA property investment fund.
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Register your interest to invest with Jarra and one of our friendly team will contact you to discuss our current investment opportunities.