Forum Global Investments LP invests in Uptown Australia Holdings Pty Ltd

Uptown Australia Holdings Pty Ltd

Forum Global Investments, LP has acquired certain interests in Uptown Australia Holdings Pty Ltd, a recently established residential rental company.

SYDNEY, AUSTRALIA, July 27, 2022 / — Forum Global Investments, LP (the “Fund”) has acquired certain interests (the “Investment”) in Uptown Australia Holdings Pty Ltd, a newly established residential rental company (the Company”). The Company is focused on acquiring large blocks of newly built apartments in key markets on the east coast of Australia with the aim of generating stable rental income and long-term growth. The company’s strategy is capitalized through capital contributions from Forum Partners and affiliates (“Forum”) and institutional funds sponsored and managed by PGIM Real Estate, the global real estate investment arm of Prudential Insurance Company of America, one of the largest insurers in the United States.

The company’s current portfolio consists of three assets located in Melbourne and Brisbane, totaling 165 units and a gross market value of approximately $90 million. The partnership pipeline includes four assets totaling 548 units and an additional $250 million in gross market value. These units are all located close to business centers, transport, shops, restaurants as well as leisure and hospitality facilities. Units have been developed to include premium finishes and amenities as well as resort-style amenities and experiences.

Forum has been active in sponsoring and capitalizing fully integrated residential rental businesses such as the Company over the past decade in various geographies. Forum believes the residential rental property market in Australia is poised for a strong recovery with historically low interest rates, low levels of residential supply and strong long-term economic and employment fundamentals . Forum believes that an institutional-grade residential rental market is emerging in Australia, as it is in the US, UK and other similar markets around the world. Due to Australia’s regulated and transparent residential markets, this investment strategy offers opportunities for steady liquidity and the potential for capital income and asset appreciation.

Over the past fifteen years, Forum has invested in or sponsored 42 different real estate companies in the Asia-Pacific region with a total asset value of over $1 billion. Forum has investment staff in Sydney who operate with the support of Forum’s global platform. PGIM is a global investment manager with over $1 trillion in assets under management across its fixed income, equity, real estate and alternative portfolios and products. PGIM is one of the ten largest asset managers in the world with over 1,100 investment professionals in 31 offices around the world.

Renee Farmer
Forum Partners
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Melvin B. Baillie