Fund manager aiming for 6.5% annual return from its new Veritas property fund, focused on ‘export aligned’ assets, including from Mr Apple.
But CDL Investments is not predicting an 11th consecutive year of profit growth.
A $290m portfolio value loss overshadowed a solid underlying performance.
The listed property fund has given $2.8m in rental support during pandemic.
While May’s commercial rent payments are an improvement on April, retail and tourism are expected to lag.
The development included a five-star hotel and A-grade office spaces.
The company has let three directors go to cut costs and make way for one from Centuria Capital.
Augusta Property Fund’s $89m transaction was cancelled on March 27.
Covid-19 is considered a force majeure under the agreement with central government.
The buyer isn’t yet known, as Charter Hall pockets $36.9m.