Listed property trust Growthpoint Properties Australia has established a beachhead into funds management, taking over Fortius Funds Management, a boutique operator that controls $1.9 billion in third-party funds.
Growthpoint has completed the deal it flagged last month at an initial purchase price of $45 million for the Fortius platform, with the potential for a further $10 million earn-out component.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
