melbourne sky view
Image – Canva.
  • Raise details announced two days after trading halt
  • Private placement of 33.75 million new units
  • Capital to be deployed in $400M debt pipeline

Qualitas (ASX: QRI) recently completed a successful raise following a trading halt on Tuesday this week.

The real estate financier and investment manager made the announcement of a trading halt earlier in the week without any other information on the raise.

Today, information about the raise was revealed, a private placement of $54 million had been made in fully paid ordinary units.

It was issued at a 0.94% discount to the 29 March 2021 VWAP of $1.6151, the price for units in the raise was $1.60.

It was successful and like many real estate company raises over the past few months, it was a resounding success:

“We are very pleased with the response we have had to the Placement which was oversubscribed. Investors are increasingly seeking private debt investments such as QRI which offers attractive risk-adjusted returns where interest rates are at all time lows.”

Andrew Schwartz, Group Managing Director & Co-Founder, Qualitas

The distribution of securities is across broker and independent financial advisers, said Kathleen Yeung, Global Head of Strategy, Qualitas, the placement offer documentation was released to market today.

Offer information

Qualitas stated in the offer documentation the investment strategy was to provide investors with “exposure to predominantly Australian CRE (commercial real estate) loans”, and that the $54 million raise would be for up to 33.75 million new units to wholesale investors only.

Consonant with company strategy the distributions will be monthly, and a target return was quoted as “RBA Cash + 5.00% – 6.50% (net of fees & expenses)”.

The timelines for the placement noted that the settlement date will be 13 April this year, the issue and trading of new units the day after.

Placement capital is stated by Qualitas as being deployed in about 2 to 3 months time as part of the $400 million CRE debt pipeline.



You May Also Like

Westpac sees rates hitting 4.1 per cent and property prices falling further

Westpac said, “2023 will be another challenging year, particularly as the RBA continues to ratchet interest rates higher.”

Home loan hacks: four way to save money on your mortgage

With interest rates expected to keep rising, Compare Club has tips to ease the mortgage pain.

CoreLogic’s guide to navigating a looming ‘fixed-rate cliff’

Many borrowers will feel mortgage pain when they next refinance

How much does it cost to move house?

From cleaning fees to moving services, the costs of moving houses can add up fast

Top Articles

Australia’s best in real estate: 2024 PropertyGuru Awards highlight innovation and sustainability

Discover the winners of the 7th PropertyGuru Asia Property Awards (Australia).

Why apartments are the smart choice for property investors in 2024

Apartment markets in Australia are emerging as leading investment option.

Finding Australia's cheapest properties with huge investment potential

Hotspotting share the undervalued locations likely to boom.