APN Retail Property Fund
The APN Retail Property Fund was established as an unlisted fund of Puma Energy service stations with an overall objective to list on the ASX.
The APN Retail Property Fund was established as an unlisted fund for the purposes of the acquisition and leaseback of an initial tranche of 23 properties, all secured by individual triple net leases of 15 years (plus four additional 10 year options) to Puma Energy Australia.
The Fund aims to provide investors with sustainable and stable, tax advantaged income with the potential for capital growth through fixed rental increases of 3.00% per annum on each of the initial properties for the initial 15 year lease term.
The Fund is also in continuing discussions regarding a number of additional properties which may be acquired by the fund at a future point in time which may take the total portfolio size to approximately $350 million (including approximately $80 million of assets currently managed by APN in the APN Property Plus Portfolio). A potential future listing of the Fund on ASX is also under consideration.
About Puma Energy
With its focus on the growth market of the Asia Pacific region, Puma Energy (Australia) Holdings Pty Ltd (“Puma Energy Australia”) has established itself as one of the largest independent oil marketing companies in Australia through a series of strategic acquisitions in 2013, totaling approximately $A1.2 billion.
These acquisitions of established facilities, which have been rebranded as “Puma” and development of new sites has resulted in an Australian footprint of 240 plus retail sites, 22 depots and 283,500 cubic metres of storage across: Queensland, New South Wales, Northern Territory, Victoria and Western Australia. In addition Puma Energy Australia also currently acts as a branded wholesale supplier of petroleum products to a further 150 plus fueling facilities.
Importantly these acquisitions also included a seaboard import terminal at Brisbane and a transport operator (Directhaul) which allows full logistical control of fuel transportation to the retail service station network and commercial customer base.
Puma Energy Australia’s major competitive advantage is its ability to source cost advantaged oil products predominantly via Trafigura Beheer B.V. (“Trafigura”) (which currently owns 49.8% of the Puma Energy group) and to store and distribute these products through its global footprint. Trafigura is a specialist international commodity trader with revenues of over $US97 billion, 5,300 employees working from 75 offices located in 37 countries.
Recently Puma Energy Australia strengthened their competitiveness and supply with the development of the MacKay and Townsville fuel import terminals featuring an additional 146,108 cubic metres of storage capacity in strategically located areas. These terminals compliment other bulk import terminals located in Darwin, Brisbane, and Perth and allows fuel supplied by Trafigura to be stored in bulk.
There are plans by Puma Energy Australia to expand the network into the southern states of Australia with a target of 400 retail Puma service station sites by 2020.
For further information on Puma Energy Australia and the Puma Energy group, please visit their website at www.pumaenergy.com.au.
This information has been prepared by APN Funds Management Limited (APNFM) (ABN 60 080 674 479, AFSL No 237500) for general information purposes only and whilst every care has been taken in relation to its accuracy, no warranty is given or implied. The information provided in this material does not constitute financial product advice and does not purport to contain all relevant information necessary for making an investment decision. It is provided on the basis that the recipient will be responsible for making their own assessment of financial needs and will seek further independent advice about the investment as is considered appropriate. Past performance is not necessarily an indication of future performance. Returns and values may rise and fall from one period to another. Any forecast distributions are not guaranteed.
Any investment in the APN Retail Property Fund is subject to general, property specific and financing risks. Please refer to the Information Memorandum (IM) for the APN Retail Property Fund for further details. A copy of the IM is available at www.apngroup.com.au or by contacting us on 1800 996 456. The Fund and IM is issued by APNFM as responsible entity.
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