US-based Resource Real Estate (RRE) has partnered with Australian-based Channel Capital to launch a institutional real estate global securities business called as RRE Global Property Securities (Australia).
The new business will offer global property securities investment from two key locations in Sydney and New York.
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The new venture will be managed by RRE’s portfolio managers Scott Crowe and John Snowden.
RRE is a wholly owned subsidiary of Resource America, a NASDAQ listed investment management company with around $15 billion under management.
Channel will provide the funds management infrastructure to underpin the Australian investment offer.
Alan Feldman, CEO of Resource Real Estate, said: "Resource Real Estate is excited to extend our global expertise in real estate and financial markets to Australian investors by offering the RRE Global Opportunity strategy.
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By GlobalData"In addition to our twenty year track record in direct real estate investment and loan origination, the combined experience of both Scott and John brings a global perspective to our real estate securities platform," Feldman added.
Snowden said that the open-ended fund will seek to raise the funds from institutional and sophisticated investors, and will invest them as they’re received.
The company said that the fund is seeking as much as A$300 million ($282 million) from Australian investors over the next two years.
The RRE Global Opportunity strategy provides institutional investors with access to global property securities by utilising Crowe and Snowden’s ‘next generation’ investment process.
Crowe said: "Our investment process identifies high quality growth companies at attractive valuations and our benchmark agnostic portfolio construction concentrates our client’s capital in the best opportunities globally."
The strategy will be officially launched to institutional investors in October.
