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Provincia is an industrial property fund with a diverse investment portfolio of properties. The quality of its properties, benefits of its open-ended PIE fund, and a strong historical total return of 15.0% (average for 2019 – 2022) sets the fund apart. Provincia operate as a single diversified fund and the management team are all investors as well. With this, the right incentives are in place to drive future performance.
Provincia invests in quality mid-sized ($5-10 million) industrial properties located in growth areas that have sound economics. Its properties are located in areas with some of the lowest vacancy rates in the country. When tenants move on, Provincia can replace them very quickly. Also during economic downturns, shops may close down and offices may cut back, but factories and warehouses just keep running.
With this offer, Provincia is looking to take advantage of counter-cyclical opportunities it is seeing in the current market by purchasing great properties at good prices to expand its portfolio by $22 million. New acquisitions will be funded by raising a further $15 million of equity from investors and $7 million of bank funding. New acquisitions will be selected by the Manager according to our property strategy and will have yields that will contribute to achieving the forecast returns.
Opening Date
1st September 2022.
Closing Date
31st March 2023 or when fully subscribed.
Share Price
The current share price is $1.56 .
Shares Offered
9,516,322 shares issued at $1.56 (discounted to $1.51) to raise $14,845,463.
Minimum Subscription amount
Existing Investors: $10,000. New Investors: $50,000.
Forecast Returns
Provincia is forecasting a Total Return of 15.2%, for the 2023 financial year ending March 31 2023. Which is the sum of the forecast fair value gain of 11.6% and the forecast pre-tax cash return of 3.6%. (5.5 cents per share) The forecast returns are based on the discounted share price of $1.51.
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