US Masters Residential Property Fund (AU:URF) has released an update.
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The US Masters Residential Property Fund reported a successful internalization of its Responsible Entity, with sales totaling US$86.27 million over 12 months and the formation of a stapled group trading as URF Stapled Securities. The fund has also streamlined its operations, selling off multifamily assets despite market challenges, and utilized capital from sales to repay debts and fund a Buyback program. Despite incurring one-off internalization costs, the fund’s operating income saw a modest year-over-year increase, although Funds From Operations indicated a loss due to accelerated property sales.
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