Dixon Advisory's US portfolio grows to 93 properties

Dixon Advisory’s US Masters Residential Property Fund added a further 18 Jersey City properties to its portfolio in December, it revealed in its latest update to the National Stock Exchange (NSX), where it is listed.

The fund now has 93 properties on its books with a combined value of $18.6 million. The properties have yields of between 8% and 13.7%

The fund also received conditional acceptances for five more properties, with an estimated combined acquisition cost of US$900,000, increasing the value of conditional acceptances to $18.6 million.

The December purchases range in price from US$139,000 for a two-family attached property featuring one three-bedroom apartment and one two-bedroom apartment with an estimated annual yield of 10.5% to US$359,000 paid for a three-family attached property featuring one four-bedroom apartment and two three-bedroom apartments with an estimated annual yield of 8%.

The fund raised an extra $31 million from investors in the second of a three-stage capital raising, which concluded this month, taking total capital raised to more than $100 million.

Shares in the fund are currently trading at $1.67 on the NSX, having listed at $1.61 at the end of June 2011.