- March 14, 2016
- Posted by: equation
- Category: Uncategorised
Hawkesbridge Property was established in 2012 by its Managing Partners, Joshua Rowe and Mark Darling in a joint venture with private equity firm,Hawkesbridge Capital.
In December 2015, the senior management team of Hawkesbridge Property (comprising Joshua Rowe, Mark Darling and Rosemary Nolan) completed a buyout of the remaining non-management controlled shares held by Hawkesbridge Capital.
Following the buyout, Hawkesbridge Property has changed its name to Centaur Property Funds Management. Apart from the name change it is business as usual and the management and staff of the business remain unchanged. The buyout and the name change has enabled the management team to align themselves closer to the performance and future direction of the business.
Centaur Property has positioned itself as a leading provider of sub $20m real estate backed senior and mezzanine loans and preferred equity to the Australian property development sector. The firm has taken advantage of the lack of competition in the sub $20m lending space and the conservative lending habits of the major banks to fund smaller development projects.
Centaur Property has a proven track record. Over the past 4 years, Centaur Property has invested $122.5 million across 55 transactions. As at 31 January 2016, 33 deals have been realised, returning proceeds of $90.7 million and achieving a gross IRR of 21.5%. The remaining 22 deals are forecast to return a gross IRR of 15% – the lower blended return reflecting an intentional shift to first mortgage lending.
Centaur Property is an institutional wholesale fund manager. Current investors include industry superannuation funds as well as family office and high net worth investors.
Centaur Property is currently investing through its first fund, Real Estate Debt Fund 1, which had a first close in May 2013. Centaur Property is currently fund raising for its next fund, Real Estate Debt Fund 2, and expects to have a first close by 31 May 2016.