Industry super fund-owned global institutional investment manager IFM Investors has completed its $50-million investment in Smart Urban Properties Australia (SUPA) following overwhelming support for the transaction from SUPA shareholders.
IFM’s capital injection will support SUPA’s ambition to change the game for property investors, developers and owners, delivering on its goal to improve the lifestyles of the communities it serves with smarter, safer, more sustainable urban properties.
SUPA Group chief executive Geoff Horth said this was an important milestone in the history of SUPA, providing the business with the capital it needed to deliver a significant pipeline of projects and to make further investments that captured additional market share.
“I would like to thank all investors for their support of the business to this point and for their efforts in helping us finalise this significant investment.
“We are genuinely excited about the growth opportunity ahead for SUPA and the potential to deliver outstanding returns for all shareholders,” Horth said.
As Australia’s first unified services provider, SUPA is focused on increasing property attractiveness and valuation with converged utilities and communications infrastructure, integrated in-building technologies, platforms and smart apps for multi-occupant properties.
About IFM Investors: IFM Investors was formed more than 25 years ago with the aim to invest, protect and grow the long-term retirement savings of working people. Owned by a group of Australian pension funds, the organisation has $217 billion under management as at March 31, 2023. Find out more at www.ifminvestors.com
About SUPA: Smart Urban Properties Australia Limited (SUPA) was formed in 2022 with the ambition to improve the lifestyles of the communities it serves by inspiring smarter, safer and more sustainable urban properties and elevated occupier experiences.
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