Freehold remains majority-owned by interests associated with its managing director, Grant Atchison, who said the announcement underpins the group’s growth plans.
“We are pleased that Alceon Group has become a significant shareholder. There is a strong alignment of interests between the two firms, which will enable us to work together to bring new opportunities to our investors," he said.
Trevor Loewensohn, managing director of Alceon, said the company is delighted to be partnering with Grant and the team at Freehold to grow their respective businesses.
“Freehold is a high-quality firm, with a proven track record in managing real estate capital on behalf of private wealth groups. This is an opportunity to utilise our respective skills in the real estate market to enhance the products and services offered to our respective clients,” Mr Loewensohn said.
This month Freehold launched a new fund, the Freehold Debt Income Fund, in partnership with Alceon. The fund aims to deliver a total annualised return of between 7 per cent and 8 per cent p.a., which will be paid monthly to investors.
The fund was seeded with just over $5 million and has secured a further $10 million of investor commitments. It invests in a diversified pool of loans originated by Alceon that are primarily secured by registered first-ranking mortgages over Australian property. The loans largely finance development, construction and ownership across the east coast markets.
Comments powered by CComment