Toga Accommodation Fund

The Toga Accommodation Fund (TAF) is an unlisted property fund that invests in apartment-hotel and hotel assets in Australia and Europe in partnership with the Toga Group.

TAF invests in apartment-hotel and hotel assets operated by the Toga Group under the well-known domestic and international brands: Medina, Adina and Vibe. TAF owns eight operating assets across Australia, Germany and Denmark.

Investec Property Limited is the responsible entity of TAF, however the day to day management of the fund is undertaken by TIMC Pty Limited, a joint venture between the Investec Group and the Toga Group.

Read more about TIMC Pty Limited
.

Fund snapshot
Statistic As at end September 2011
Fund size ( gross assets) A$313 million
NTA per unit Fully paid A$0.85
Original min. investment A$500,000
Distribution payments Quarterly, although not guaranteed
Withdrawals Not applicable
DRP Not applicable
Total borrowings A$178 million
Gearing ratio 60%
Number of investors 171
Earliest fund termination December 2012
Summary of distributions by TAF to investors to date
TAF distributions since inception   Distribution per security
Dist 1 Mar-06  1.33 cents
Dist 2 Jun-06 1.19 cents
Dist 3 Sep-06 1.20 cents
Dist 4 Dec-06 1.24 cents
Dist 5 Mar-07 1.39 cents
Dist 6 Jun-07 1.60 cents
Dist 7 Nov-07 1.66 cents
Dist 8 Jan-08 1.75 cents
Dist 9 Apr-08 1.87 cents
Dist 10 Aug-08 1.87 cents
Dist 11 Nov-08 1.89 cents
Dist 12 Jan-09 1.84 cents
Dist 13 Mar-09 1.84 cents
Dist 14 Jun-10 1.00 cents
Dist 15 Sep-10 1.26 cents
Dist 16 Dec-10 1.26 cents
Dist 17 Mar-11 1.23 cents
Dist 18 Jun-11 1.25 cents
Dist 19 Sep-11 1.26 cents
    27.93 cents

Please note that past performance is not an indicator of future performance.