Galileo
Corporate
Profile

Track Record

Galileo has a proven track record in terms of successful operations in the real estate public markets and continues to enjoy mutually beneficial partnerships with some of Australia’s largest property investment institutions.

In summary: Independently owned and operated Over 180 real estate acquisitions completed since 2003  in Australia, Japan and the USA. Japan: 26 assets – acquisition value ¥88 billion Australia: 10 assets – value on completion US$ 1.6 billion USA: 147 assets - acquisition value US$ 2.1 billion Listed and managed 2 ASX listed REITs Listed new JREIT on the Tokyo Stock Exchange Experienced in investing and managing both for and with  institutional investors

Galileo Australia

July 2015

Acquisition of a prime residential site in Officer, Melbourne for subdivision and development into 171 residential lots generating gross revenues of A$39 million; equity funded by Galileo and private equity investors in Australia as joint venture partners.

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May 2015

Acquisition of 14 individual residential lots at Miranda in Sydney to be developed into 197 apartments with gross revenues of approximately A$162 million.

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December 2014

Acquisition of a Sydney CBD office building for conversion into 105 luxury residential apartments; estimated to generate gross revenues of A$240 million; equity funded by Galileo Group and a major institution in Australia as joint venture partner; debt funding expected to be A$125 million from a major Australian bank.

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December 2014

Acquisition of an industrial site to be developed in Dulwich Hill into 246 luxury residential apartments in Sydney generating gross revenues of A$222 million; equity funded by Galileo Group and private equity investors in Australia as joint venture partners; debt funding totalling A$120 million from a major Australian bank.

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June 2014

Acquisition of a prime residential infill site in Wantirna, Melbourne for subdivision and development into 176 residential lots generating gross revenues of A$34 million; equity funded by Galileo Group and private equity investors in Australia as joint venture partners.

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January 2014

Acquisition of Chatswood Interchange retail centre; managed leasing and tenant fit out activities for 80 tenancies, including an upmarket dining district containing 13 restaurant operators.

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April 2013

Construction commenced on the development of 191 luxury residential apartments in South Brisbane generating gross revenues of A$102 million; equity funded by Galileo Group and private equity investors in Australia as joint venture partners; debt funding totalling A$60 million from a major Australian bank.

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August 2012

Construction commenced on the development of 553 luxury residential apartments above a public transportation hub in Chatswood, Sydney generating gross revenues of A$500 million; equity funded by Galileo Group with a major institution in Australia as joint venture partner; debt funding totalling A$245 million from a major Australian bank.

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September 2011

Commencement of development of a prime residential infill site in Keysborough Melbourne for subdivision in two stages and development into 117 residential lots generating gross revenues of A$36 million; equity funded by Galileo Group; debt funding provided by local Australian financier.

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December 2010

Acquisition of 3 stratum (airspace) lots for the construction of 553 residential apartments across 3 towers above the newly constructed Chatswood Transport Interchange.

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September 2009

Construction commenced on the conversion of an existing Sydney CBD office building at 18 College Street, Sydney to 87 luxury residential apartments known as The Residence, Hyde Park, generating gross revenues of A$321 million; equity funded by Galileo Group with a major institution in Australia as joint venture partner; debt funding totalling A$183 million from major Australian banks.

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July 2009

Construction commenced on Eora, 17 boutique style residential apartments in Cammeray generating gross revenues of A$18 million; equity funded by Galileo Group and private equity investors in Australia as joint venture partners; debt funding totalling A$11 million from the Australian branch of an international bank.

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Galileo Japan

September 2016

The group sponsored Sakura Sogo REIT Investment Corporation which listed on the Tokyo Stock Exchange with 18 assets with a value of ¥58 billion.

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October 2014

GJT refinances the ¥6 billion in Eurobonds with cheaper mezzanine financing from a major Japanese bank to allow for increased returns and distributions to investors.

October 2013

GJT raises A$148 million via an institutional book build offer for the purpose of recapitalising the business; equity funds used to repay debt to allow distributions to be reinstated; Eurobonds on issue reduced to ¥6 billion.

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September 2009

GJT refinances its senior debt and issues ¥11 billion Eurobonds in Japan to assist with debt financing.

January 2008

GJT acquires office building for ¥3.4 billion funded by new Japanese yen denominated debt.

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October 2007

GJT acquires a new shopping centre in Nagamine for ¥4.65 billion, fully debt funded.

July 2007

GJT acquires 3 shopping centres for ¥23.7 billion funded by public entitlement offer equity of A$116 million and new Japanese yen denominated debt.

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December 2006

ASX IPO of Galileo Japan Trust (GJT), 21 assets acquired for ¥57 billion funded by IPO equity of A$284 million and new Japanese yen denominated debt.

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Galileo America

May 2007

Galileo sells GFML the management company of GSA.

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February 2007

GSA acquires a shopping centre for US$22.5 million funded by floating rate debt and existing CMBS debt on the asset.

January 2007

GSA acquires 2 shopping centres for US$39.7 million funded by floating rate debt, existing CMBS debt on the assets with new CMBS debt funding in the USA.

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December 2006

GSA acquires a shopping centre for US$15.2 million funded by floating rate debt and subsequently refinanced with new CMBS debt funding in the USA.

October 2006

GSA acquires a shopping centre for US$24.3 million funded by floating rate debt and subsequently refinanced with new CMBS debt funding in the USA.

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April 2006

GSA acquires 5 shopping centres for US$107 million funded by an institutional placement of new equity totalling A$35 million plus new CMBS debt funding in the USA.

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November 2005

GSA acquires 7 shopping centres for US$127 million funded by an institutional placement of A$49 million plus new CMBS debt funding in the USA.

July 2005

GSA acquires 69 shopping centres for US$969 million funded by an institutional placement and public offer of new equity totalling A$396 million plus new CMBS debt funding in the USA.

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October 2004

GSA acquires 10 shopping centres for US$202 million funded by an institutional placement of new equity totalling A$51 million plus new CMBS debt funding in the USA.

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October 2003

ASX IPO of Galileo Shopping America Trust (GSA), 51 shopping centres acquired for US$573 million funded by IPO equity of A$474 million plus new CMBS debt funding in the USA.

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Strengths

Real Estate Specialist

Galileo has demonstrated strong capability as an independent Australian boutique real estate funds management and development group. Institutional Pedigree yet nimble and adaptive.

Flexibility

As a privately-owned boutique group Galileo has the flexibility to pursue a variety of investment opportunities and selectively partner with institutional investors without conflicts of interest.

Depth of Skill

With offices in Sydney and Tokyo, Galileo has extensive real estate experience across a broad range of disciplines including: Valuation, asset management, development, capital markets, legal/compliance and accounting.

Our Mission

Our mission is to use our extensive real estate and capital markets experience to create the most attractive investment opportunities for both public market and private equity investors. We strive to achieve excellence in all aspects of our business and actively foster strong and sustainable partnerships with other industry stakeholders.

Relationships

Galileo has worked successfully on major transactions with the following financial groups: