MPF takes entitlement in MAFCABrookfield Multiplex Capital...

MPF takes entitlement in MAFCA

Brookfield Multiplex Capital Management Limited (BMCML) as Responsible Entity for Multiplex Acumen Property Fund (Fund) today announces that the Fund has fully participated in an Entitlement Offer made by Multiplex Prime Property Fund (ASX: MAFCA).
Under this offer, the Fund was entitled to invest up to $4.97 million to acquire units in MAFCA, in which it has a 9.9% stake. This investment has been made with funding provided by an entity in the Brookfield Multiplex group for 12 months on commercial terms and conditions. Recourse for the loan is limited to the security of the additional units subscribed for under the Entitlement Offer and interest capitalises during the term of the loan.
On any sale of the new units, any proceeds net of the amounts owing under the loan will be used to reduce MPF’s bank borrowings.
The Fund is supportive of MAFCA’s portfolio of premium office buildings in Sydney and Melbourne, and this investment and loan will permit it to participate in any recovery in property values in those markets.