MEDIA RELEASE 15 July 2009
BBX Property Fund Prospectus lodged for 2009
BBX Property Fund has issued its fourth prospectus since its listing in 2006 on
the National Stock Exchange of Australia (NSX).
Since 2006 the Property Fund has raised $15 million in share capital, which
includes approximately $13 million BBX trade, and has purchased 17 properties.
The prospectus invites investors to apply for up to 400,000 Ordinary Shares and
up to 1,600,000 'B' Class Shares at an issue price of $1.00 each. Investment in
the Property Fund is open to members of the BBX exchange.
To apply for 'B' Class Shares, an investor must be, or apply to become, a member
of the BBX exchange and is then able to secure an investment that is tax
effective when used in conjunction with a self-managed superannuation fund. The
company recommends that investors seek independent professional advice in this
regard.
The BBX Property Fund is a licensed investment company established to invest in
residential and commercial properties in Australia and New Zealand.
Simon Touma, Property Fund chairman, believes that, despite the recent financial
downturn, it is an opportune time to invest in property.
"The prospectus provides a great opportunity for investors to participate in the
acquisition of apartment and commercial units at a point in the market that is
not just a 'cyclical low' but possibly the bottom due to the subprime lending
crisis that has depressed markets around the world.
"We expect there to be excellent buying opportunities over the next 12 months as
interest rates remain low but developers find themselves having to clear stock
in the cash marketplace to reduce their mortgages to the increasingly impatient
banks.
"We believe the investment fundamentals such as occupancy rates and rentals will
remain strong in the areas in which we are investing. We also think that there
will continue to be a shortage of residential accommodation which will drive
rents up further with capital values to follow," said Touma.
BBX is a membership based trading program whose primary role is to generate new
opportunities for all types of businesses and to show business owners how to
offset cash expenses by utilising down time and idle inventory in their
business.
In addition to business-to-business trading, BBX also offers members a range of
value added services to further utilise their BBX income. These include BBX
Insurance, BBX Money, BBX Real Estate, BBX Financial Advisors, and the BBX
Property Investment Fund.
The trade exchange uses BBX dollars, a currency unit having equivalent value to
Australian currency, to assign value to the transactions that take place between
member businesses. In essence, the exchange acts as the third party record
keeper, similar to a bank, and provides a sophisticated market where thousands
of transactions take place on a cashless basis.
BBX has offices throughout Australia and operates in New Zealand, China, India
and Costa Rica through a master franchise, with plans to establish more
international franchises. Globally these are over 300,000 BBX members.
Members in Australia and New Zealand traded in excess of $200 million in the
financial year ending 30 June 2009, averaging over $33,000 per member.
BBX can be contacted by phoning 1800 222 229 or visiting
www.ebbx.com.
More information on the BBX Property Fund and a copy of the prospectus can be
found at www.bbxpropertyfund.com.
Released for BBX by Dennis Rutzou Public Relations (www.drpr.com.au)
For further information please call Joanna Gitsham or Nicola Rutzou on (02) 9413
4244.
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