Charter Hall’s Direct Office Fund begins new round of equity raising

Charter Hall Group's Direct Office Fund (DOF) has launched a new round of equity raising.

DOF is an unlisted property fund chasing Australian office properties and currently offers nine fully leased office buildings in Sydney, Melbourne, Brisbane and Perth valued at over $842 million.

The current distribution yield for the fund is 6.6 percent per annum.

Steven Bennett, fund manager of DOF said the fund is targeting to grow its property portfolio to over $1.2 billion.

“DOF has provided investors with annualised distributions of 7.5 cents per unit paid quarterly plus strong capital growth to date, which is forecast to grow to an annualised 7.75 cents per unit for the year ending 30 June 2017," he said.

"Sydney and Melbourne office markets are forecast to have the highest growth rates and which comprise over 70 percent of the Funds’ assets by value."