The group is currently finalising due diligence on an unnamed Sydney central business district office asset.
GDI will seek to raise a maximum of $64.1 million and investors can subscribe to the raising until 1 September.
“The trust will be conservatively geared with a target borrowing initially of 48 per cent,” GDI said.
The group expects the trust to distribute about 9 per cent in the 2011 financial year, increasing to 9.25 per cent in 2012.
“The property is a renovated, multi-tenanted office building, with thriving retail shopping facilities and excellent parking,” GDI said.
“The property is well located in a very busy part of the CBD. The building has good natural light, easily divisible floor plates and a good letting history.”
The trust is GDI’s 34th investment fund. The group has been managing assets for 17 years and has completed 25 funds. GDI currently asset manages $415 million in commercial property investments.
