15 May 2020

KM Property Funds is pleased to announce that Thynne Street Property Fund (‘Fund’) has received strong support from investors and financial advisers. The Fund has achieved its Minimum Subscription Amount (‘MSA’) of $7.384 million, well before the minimum subscription date of 31 October 2020.

KM Property Funds Managing Director David Omond said, “We are delighted that Thynne Street Property Fund achieved this significant milestone during the uncertainty created by the COVID-19 pandemic. The overwhelming support from investors demonstrates that they share our confidence in the Fund and recognise the quality of the property, the long-term lease, and the tenant, the Australian Institute of Health and Welfare, a statutory agency of the Commonwealth Government of Australia.” As disclosed in the Fund’s Product Disclosure Statement, the proceeds raised under the MSA will reduce the Fund’s loan to value ratio to 47.0% and the loan to $18.471 million.

Investors in the Fund before the MSA have earned income, pro-rata, from the date of allocation of their units. New investors will also be entitled to receive income, pro-rata, from their allocation date, which is the date that a complete application and money in the system are processed. The Fund will make its first distribution payment, for the quarter ending 30 June 2020, on 7 August 2020.

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