US Masters Residential Property Fund (ASX: $URF) special distribution announcement

US Masters Residential Property Fund (ASX: $URF) has announced a special distribution of $0.01 per Unit on the 5th of March 2024. The Fund achieved 2023 results during the first 12 months of the Brooksville partnership, with 31 property sales totaling US$53.8 million. The Global Atlantic loan was reduced by US$31.1 million, and the Fund continued its buyback program, purchasing 44.6 million URF Ordinary units for a total consideration of $13.3 million.

Executive Commentary on Fund's Performance and Strategy

The Fund's performance in 2023 reflects our commitment to returning capital to Unitholders through the selling program and buyback initiatives. We are pleased with the progress made in reducing the Global Atlantic loan and utilizing surplus capital for URF Ordinary Unit buybacks. The announcement of a special distribution demonstrates our dedication to delivering value to our Unitholders. Looking ahead, we remain focused on the asset sales program and aim to achieve $150 million in property sales during 2024, leveraging the encouraging sales momentum observed in the early months of the year.

Summary of US Masters Residential Property Fund's Announcement

US Masters Residential Property Fund (ASX: $URF) has declared a special distribution of $0.01 per Unit, reflecting its commitment to returning capital to Unitholders. The Fund's 2023 results, achieved during the first 12 months of the Brooksville partnership, included 31 property sales totaling US$53.8 million and a reduction of the Global Atlantic loan by US$31.1 million. The buyback program saw the purchase of 44.6 million URF Ordinary units for a total consideration of $13.3 million. The Fund aims to achieve $150 million in property sales during 2024 and has observed encouraging sales momentum in the early months of the year. The Fund's performance in 2023 demonstrates its dedication to delivering value to Unitholders and its strategic focus on capital management and the asset sales program.