ABOUT MARPROP
Marprop exceeds performance hurdles by identifying market dislocation and mispricing opportunities, then developing and revitalising assets. Our goal is to create superior workplace experiences for our tenant customers, by providing ‘beyond grade’ amenity levels, which in turn drives portfolio performance. Since inception we have developed, invested and divested over $900M of real estate assets, while delivering returns substantially beyond market benchmarks.
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What We Do:
- Invest in commercial real estate, primarily focussed on investment grade assets located in the capital cities across Australia’s east coast.
- Co-invest alongside wholesale capital from Family offices, Endowment funds, Institutional Capital and Pension Funds.
- Provide investors with a strong history of above-market, risk-adjusted returns, benchmarked on industry standards.
How We Do It:
- A single team is responsible for the development of an investment strategy, deal origination and execution, active asset management and final divestment.
- Well-developed investment strategies based on thorough research and analysis.
- Being real estate entrepreneurs developing, re-inventing and activating assets.
- Continuously evolving, learning and enhancing our management of assets
Origins:
Marprop Real Estate Partners, originally known as Marshall Property Partners, was founded in late 2007 by James Marshall. From its early days of offering real estate advice to corporate and investment clients, the company has grown into a fully-fledged real estate investor and fund manager with proven development capability.
From 2012 -2017 Andre Biet joined Marprop as Chairman and was instrumental in setting up institutional investment side of the business. Andre was a co-founder of the Charter Hall Group where he served as Managing Director and CEO for 17 years from inception until listing the company on the ASX in 2004. He retired from the Charter Hall Group in 2007.
Philosophy:
The original philosophy upon which Marprop was founded remains in place to this day; ‘offering the highest level of service, professionally and with integrity’. We view our tenants as our customers and place a very high value on clients, investors and our people.
ENVIRONMENTAL, SOCIAL & GOVERNANCE
We believe that principles are neither policies nor objectives. Rather, we view our principles as determining how we deal with our people, our clients, broader community and environment. At Marprop we place enormous emphasis on respect and honesty. Respect for our colleagues, our clients, our ecosystem and unremitting honesty in how we do business.
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Sustainability. A critical consideration:’
Real estate is central to urban development, consumes physical resources and is a significant source of emissions. Equally, it is central to the goal of creating an environmentally sustainable future. World Economic Forum, Dec 2016
Marprop holds a strong belief that active ESG is a value-add to our business operations, not a compliance issue to be overcome. With our asset management principal of providing ‘beyond grade’ experiences for our tenants, enhancing the sustainability features of our portfolio goes hand in hand with this philosophy and is a critical component in its achievement. It is our experience that such a focus is highly coveted, if not demanded, by our tenants. As such, Marprop’s goal is to exceed global ESG standards at every possible opportunity.
Social Responsibility:
The way we and other corporates do business, impacts not just the environment but also society at large. We strive to achieve a sensible balance between maximising benefits for our stakeholders, whilst at the same time minimising our impact on the environment. Marprop encourages and supports ongoing education for its team, supports Australian charitable organisations financially and is actively involved in industry bodies and other charitable activities.
Principal Investors and Fund Managers in Commercial Real Estate
Marprop exceeds performance hurdles by identifying market dislocation and mispricing opportunities, then developing and revitalising assets. Our goal is to create superior workplace experiences for our tenant customers, by providing ‘beyond grade’ amenity levels, which in turn drives portfolio performance. Since inception we have developed, invested and divested over $900M of real estate assets, while delivering returns substantially beyond market benchmarks.
Read More
What We Do
Invest in commercial real estate, primarily focussed on investment grade assets located in the capital cities across Australia’s east coast. Co-invest alongside wholesale capital from Family offices, Endowment funds, Institutional Capital and Pension Funds. Provide investors with a strong history of above-market, risk-adjusted returns, benchmarked on industry standards.
How We Do It
- A single team is responsible for the development of an investment strategy, deal origination and execution, active asset management and final divestment.
- Well-developed investment strategies based on thorough research and analysis.
- Being real estate entrepreneurs developing, re-inventing and activating assets.
- Continuously evolving, learning and enhancing our management of assets
Origins
Marprop Real Estate Partners, originally known as Marshall Property Partners, was founded in late 2007 by James Marshall. From its early days of offering real estate advice to corporate and investment clients, the company has grown into a fully-fledged real estate investor and fund manager with proven development capability.
From 2012 -2017 Andre Biet joined Marprop as Chairman and was instrumental in setting up institutional investment side of the business. Andre was a co-founder of the Charter Hall Group where he served as Managing Director and CEO for 17 years from inception until listing the company on the ASX in 2004. He retired from the Charter Hall Group in 2007.
Philosophy
The original philosophy upon which Marprop was founded remains in place to this day; ‘offering the highest level of service, professionally and with integrity’. We view our tenants as our customers and place a very high value on clients, investors and our people.
Environmental, Social & Governance
We believe that principles are neither policies nor objectives. Rather, we view our principles as determining how we deal with our people, our clients, broader community and environment. At Marprop we place enormous emphasis on respect and honesty. Respect for our colleagues, our clients, our ecosystem and unremitting honesty in how we do business.
Read More
Sustainability. A critical consideration:’
Real estate is central to urban development, consumes physical resources and is a significant source of emissions. Equally, it is central to the goal of creating an environmentally sustainable future. World Economic Forum Dec 2016
Marprop holds a strong belief that active ESG is a value-add to our business operations, not a compliance issue to be overcome. With our asset management principal of providing ‘beyond grade’ experiences for our tenants, enhancing the sustainability features of our portfolio goes hand in hand with this philosophy and is a critical component in its achievement. It is our experience that such a focus is highly coveted, if not demanded, by our tenants. As such, Marprop’s goal is to exceed global ESG standards at every possible opportunity
Social Responsibility:
The way we and other corporates do business, impacts not just the environment but also society at large. We strive to achieve a sensible balance between maximising benefits for our stakeholders, whilst at the same time minimising our impact on the environment. Marprop encourages and supports ongoing education for its team, supports Australian charitable organisations financially and is actively involved in industry bodies and other charitable activities.
RECENT TRANSACTIONS
120 Harbour Esplanade, Melbourne
Acquisition Price:
Acquisition Date: 2019
Building Size:8,341 m2
Vehicle: Institutional Fund
Description:
120 Harbour Esplanade is a stabilised investment 100% leased to Bendigo and Adelaide Bank for a period of six years at acquisition with a five-year option. The property is located in Melbourne’s strongly performing Docklands precinct, enjoying uninterrupted views over Victoria Harbour.
Rationale:
The property offers a secure income stream with positive accretion initially, with additional rental reversion uplifts pending from strong market conditions. Further, the building’s specific location is set to benefit from the recently announced $225m redevelopment of Marvel Stadium and Harbour Esplanade precinct. Marprop expects this to have a profoundly positive impact on the asset via material improvements to local amenity and connectivity.
17 Moore Street, Canberra
Acquisition Price: $20.6m
Acquisition Date: 2018
Building Size: 5,717 m2
Vehicle: Private Capital SPV
Description:
17 Moore Street is a seven level office building that has recently been the subject of a major refurbishment involving a full external and internal upgrade. The property is located in the north-western quadrant of the Canberra CBD, approximately 250 metres north of the GPO. The building has the ability to be certified to a 5 Star NABERS Energy rating.
Rationale:
Due to vacancy in the asset an opportunity was presented to acquire the property at below replacement cost and enhance the tenancy profile by implementing Marprop’s ‘beyond grade’ leasing strategy. To date speculative fitout works have commenced and the building has undergone a rebranding strategy that has seen leasing demand progress beyond initial expectations.
157 Walker Street, North Sydney
Acquisition Price: $80.1m
Acquisition Date: 2017
Building Size: 8,928 m2
Vehicle: Institutional Fund
Description:
157 Walker Street is located in the North Sydney office market, one of the most constrained office markets in Australia due to land density and residential demand for the area. On a near 1,300sqm land holding, the building features a prominent street front and enjoys spectacular views across Sydney Harbour from upper floors. .
Rationale:
The asset was acquired with rental rates materially below market levels, with additional rental growth likely at time of reversion due to the building’s proximity to the upcoming Metro station and a continuation of strong demand fundamentals across North Sydney. Ground floor retail presents an immediate opportunity for Marprop to enhance the building’s appeal by activating the lobby area, while the efficient floor plates are highly flexible and will appeal to a wide array of potential tenants.
541 St Kilda Rd, St Kilda, Melbourne
Acquisition Price: $65m
Acquisition Date: 2018
Building Size: 8,247 m2
Vehicle: Institutional Fund
Description:
541 St Kilda Road is situated in the established St Kilda office market and within 4.5 kilometres from Flinders Street Station. The Building is an A Grade single tenanted building with ground floor retail and 6 office levels that possesses large floor plates for the precinct and four sides of natural light.
Rationale:
St Kilda Rd has evolved into a mixed-use precinct over the past decade, with office market stock withdrawals typically required for residential development. This withdrawal requirement has driven prime vacancy to a near all-time low and spurred strong rental growth. The property will be able to to benefit from this market performance upon expiry of the major tenant, while the structure of the asset provides an excellent opportunity for implementing Marprop’s ‘beyond grade’ asset strategy.
14 Moore Street, Canberra
Acquisition Price: $59m
Acquisition Date: 2018
Building Size: 10,864 m2
Vehicle: Institutional Fund
Description:
14 Moore Street is located in the heart of the Canberra CBD with 77 basement car spaces and has recently undergone a major refurbishment program. Featuring modern amenities and a four-star NABERS energy rating, the property has a diverse tenancy profile and four sides of natural light
Rationale:
With an attractive tenancy and income profile upon acquisition, Marprop intends to maintain the building to a high standard, with planned improvements likely to add significant tenant appeal. The Canberra market is bifurcated, with materially higher vacancy levels experienced in secondary assets, while prime grade vacancy is very low. This presents an opportunity for 14 Moore Street to position itself as a financially attractive tenancy option in the prime segment.
PROPERTY HISTORY
MARINAS
With high barriers to entry and stabilised income returns Marprop has used our real estate expertise to rejuvenate old industrial marinas to vibrant food & beverage retail-based precincts
With high barriers to entry and stabilised income returns Marprop has used our real estate expertise to rejuvenate old industrial marinas to vibrant food & beverage retail-based precincts
INVESTMENT OPPORTUNITIES
Marprop’s investor base is divided into three broad categories; Institutional Funds, Private Capital and Alternate asset classes:
Institutional Funds
Our institutional fund seek commercial office assets $50m+ in size with a focus on the capital cities on Australia’s Eastern seaboard.
Private Capital
Our private capital investments are typically commercial office assets acquired in special purpose vehicles (SPV’s) seeking assets in CBD, metropolitan and regional areas along Australia’s eastern seaboard.
Maritime
Commercial and recreational maritime infrastructure.
Marprop’s investor base is divided into three broad categories; Institutional Funds, Private Capital and Alternate asset classes:
Institutional Funds
Our institutional fund seek commercial office assets $50m+ in size with a focus on the capital cities on Australia’s Eastern seaboard.
Private Capital
Our private capital investments are typically commercial office assets acquired in special purpose vehicles (SPV’s) seeking assets in CBD, metropolitan and regional areas along Australia’s eastern seaboard.
Maritime
Commercial and recreational maritime infrastructure.
