The Indigenous Real Estate Investment Trust (I-REIT) was established in October 2013 as an initiative of Indigenous Business Australia (IBA), to provide wholesale Indigenous investors the opportunity to invest in partnership with other Indigenous groups in an actively managed property fund which at 31 March 2019 was valued at in excess of $100 million.
The fund is an Australian, unlisted unit trust investing primarily in a portfolio of Australian commercial properties in three key sub-sectors; office, industrial and retail. As at 31 March 2019 the portfolio comprises seven assets providing suitable accommodation for our tenants, with further acquisitions planned.
By investing in the I-REIT, Indigenous investors share in any income and capital growth generated by the I-REIT's geographically diversified portfolio of commercial properties. Commercial property a significant asset class that usually forms part of a diversified investment portfolio. A key benefit of the I-REIT for Indigenous groups is access to returns from properties that would otherwise require a very large capital outlay and significant acquisition costs.
‘Our investment alongside Indigenous Business Australia, which commenced in 2005, has grown from strength to strength and joined us with other Indigenous organisations seeking to maximise their earnings over the medium to long term. I-REIT was a logical and cost-positive step to broaden our commercial property portfolio.’
Corporation CEO, Justin O’Brien