Hello
Has anyone looked into the Babcock and Brown residentual property trust which is about to go public?
Any thoughts?
Thanks
ElkaHi elkam,
I got an email in from intelligentinvestor.com.au (their all about value investing in the share market). Not sure if it helps but here’s there opinion below.
It got my attention and thought it maybe of interest to clients but we are to busy with tax planning so haven’t had a chance to have a good look at it.
Another point to note is that there is no retail share offer on the IPO so you have to go through a broker with an allotment. Think you can get round this by using Investsmart.com.au if you are going to wack some cash in.
Babcock & Brown Residential Land Partners (BLP)
(Open)Closing Date: 29 Jun, 2006
Babcock & Brown Residential Land Partners has paid $203m for a portfolio of residential properties in ten locations on the east coast of Australia. It has now packaged them into a fiendishly complex structure from which investment bank Babcock & Brown will take a smorgasboard of fees. $175m is being raised in an offer of stapled securities which closes on 29 June. If you want exposure to residential property, the more usual method is to buy a house, but that wouldn’t provide Babcock with any revenue, would it?
Property WA,
I’m involved in two of B&B listings.
They sent me the paperwork the other day. No brokerage costs involved with my offer.
B&B believe that it will be fully subscribed through current share holders.
Minimum of five thousand shares at one dollar a share.
B&B must think that residential property is going the way of New York property, only large corporations can afford to invest. The poor tenant only rents.
Very sad.bruham.
Thank you both for your replies. I have been offered shares through my broker as I have most of the other B & B shares and just can’t decide if now is a good time to buy into a residential trust.
Thanks again
Elka
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