We are pleased to have received significant commitments for our existing Fundraise from our cornerstone shareholders the Stewart Family as well as existing and new investors.
However, due to recent changes in our funding timetable for the Drury South and Waterloo projects, a significantly expanding future acquisition pipeline, and the wider market environment, the Board of FortHill Property has decided it is in the best interests of shareholders, both existing and new, to pause the current fundraise.
Accelerated Growth
We have previously indicated a desire to grow FortHill Property to a $1b+ portfolio over the next 5+ years at roughly $50m - $100m per year. The recent expansion of our future acquisition pipeline has highlighted an opportunity to accelerate our growth path materially beyond that, to $100m - $200m per year and puts us on track to consider what a $1b portfolio would look like and our next strategic horizon. We have commenced that work now.
With that growth in mind the Board looks forward to updating you on the strategy.
