ISPT to create A$200m residential fund by end of 2010

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AUSTRALIA - Industry Superannuation Property Trust, an Australian direct property investment manager owned by pension funds, plans to create a fund focusing on residential investments by the end of the year.

The new fund will raise between A$200m ($184m) and A$300m to invest in assets including land that can be redeveloped into high-density housing, said Daryl Browning, who helps oversee about A$6.7bn ...

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