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<p>The first property vehicle to float on the Australian Securities Exchange this year, Australian Unity Office Fund saw investors making 6.5 per cent on the float price of $2 a share this week.</p>
<p>The new trust has a $391 million portfolio of eight assets in Sydney, Adelaide, Melbourne, Brisbane and Canberra.</p>
<p>Its share price traded as high as $2.20 in trading on debut on Monday June 20. It was trading at $2.12 on Wednesday, July 22.</p>
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<p>The fund manager raised $155 million in new equity for the former unlisted vehicle through the bankers at UBS, Credit Suisse and National Australia Bank.</p>
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<p>The new Australian Unity trust is forecasting a dividend yield of 7.4 percent. </p>
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<p>The property portfolio has a 96.5 percent occupancy rate, according to Credit Suisse. </p>
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<p>The fund is overseen by former Federation Centres non-executive director Peter Day as chairman.</p>
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