The latest property the Fund is looking to acquire is inching closer to passing due diligence.
In particular, the property has been independently appraised at $3.5m, which is $700,000 above the agreed purchase price of $2.8m.
In order to pass due diligence the building and environmental inspections need to come back clean, and the legals need to be ticked off.
Due diligence needs to be completed before Christmas as the property is scheduled to close before 31 December 2014.
After purchase the Fund will have approximately $1m left to invest before being fully invested.
