HISTORY OF THE Rabinov Property Trust

 

The Rabinov Property Trust (Rabinov Trust) was established on 10 November 1998, with RPML as its trustee. Mr. Ronald Serry, as the managing director of RPML since 1998, has taken a leading role in establishing and managing the operations of the Rabinov Trust. The first properties purchased were 3 Nestle regional distribution centres.

 

The Rabinov Trust is named after the late Mr. Ezriel Rabinowicz. Mr. Rabinov, as he was commonly known, through his corporate entities was the major unit holder since the inception of the Rabinov Trust and its listing on the Australian Secirities Exchange (ASX Code: RBV) on August 2003. His estate continues to be the major unit holder.

 

Mr. Rabinov and Mr. Serry had an extensive association in property. From 1984 to 1994, Mr. Rabinov and his then partner, Mr. Les Korman, (operating as the Rabinov Group) built up a substantial portfolio of supermarket properties throughout Australia. In 1990, Mr. Serry started representing the Rabinov Group in the purchase of a number of those supermarkets. In 1994, Mr. Serry provided the legal and management resources to ensure the successful sale of 19 supermarkets to Macquarie Bank Ltd. These supermarkets formed the basis of the Macquarie Countrywide Property Trust.

 

Following the sale of these supermarkets in 1994, the Rabinov Group then acquired a diversified portfolio of 16 properties which included industrial, office and retail properties, the majority of which were ultimately sold to GE Capital Real Estate in 2000/2001. Mr. Serry had a broad asset management role in the operation of this diversified property portfolio and negotiated its sale to GE Capital Real Estate.

 

In the period of March 2007 till June 2009, ANZ Banking Group Limited had a 50% then 100% share in the manager Rabinov Property Management Limited (under various name changes). As at June 2009, ANZ's involvement is now soley as financier to the trust.