Developing a retail property syndication performance index

With property syndicates accounting for 12.3% of property investment in Australia in 1998-99 (Property Investment Research, 1999), Table 1 presents a profile of property syndication in Australia at June 2000 (Property Investment Research, 2000a). Key features in this profile include: * average level of debt (49%), compared to 30% for LPTs * average number of properties per syndicate (1.6), compared to 17 for LPTs * average number of investors per syndicate (261), compared to more than 8,000 for LPTs * average assets per syndicate ($19.2 million), compared to more than $800 million for LPTs