The U.S. Masters Residential Property Fund is looking to purchase rundown properties in New York City to add to its existing A$545 million portfolio of single- and multi-family properties in the New York metropolitan area.
The fund only invests in properties that can be reached in less than an hour by public transport from midtown Manhattan, Alan Dixon, chief executive office of Dixon Advisory, the investment firm that manages the Australian listed fund.
The fund could look to raise capital in the U.S. in future, particularly in the event the Aussie should weaken further, Mr. Dixon said. So far it has only raised funds in Australia.
Click here for the full Bloomberg article
