Resolution Capital

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Comments2

Companies2

Positions opened0

Positions exited0

Last published30 Apr 2026

Companies discussed, last 12 months

2 companies, monthly, latest action on the right

NovJanMarMayJulSepLatest

ALXAtlas Arteria GroupHeld NSRNational Storage REITHeld

Commentary

DateManagerCompanyActionSummary

30 Apr 2026Resolution Capital ALXHeldThe manager continues to hold Atlas Arteria (ALX) which rallied late in the month after a private ~34% equity owner launched an unsolicited off-market takeover bid at A$4.75 per security in cash, rising to A$5.10 if acceptances take its stake to 45% or more. The headline offer represented a ~10% premium to the prior close, and shares traded above the bid price following the announcement. After month-end, the ALX Board rejected the offer, stating it was "opportunistic and materially undervalues" the business.

Monthly Report, price recorded $4.80

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19 Dec 2025Resolution Capital NSRHeldThe fund manager continues to hold National Storage REIT because they believe the current Brookfield/GIC takeover offer at $2.86 per share is inadequate and does not reflect the intrinsic value of the outstanding portfolio and platform. They note NSR is the only publicly traded internally advised self-storage vehicle in Asia/Pac, operates in a market with strong population growth and limited self-storage per capita, and the bid does not adequately reflect the franchise value, future development potential or market leadership built over 25 years. The manager urges shareholders to reject the current bid and notes the timing reflects a soft point in the cycle for real estate and REIT prices.

Article

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About Resolution Capital

Sector Focused, All-Cap

Resolution Capital is a Sydney-based specialist global listed real estate securities manager, founded by a team with deep expertise in REITs and property-related equities across Australian and international markets. The firm focuses exclusively on listed real estate investment trusts and property companies, applying detailed fundamental analysis of underlying property portfolios, balance sheets and management quality to construct global and regional REIT portfolios. Resolution Capital serves institutional and wholesale investors seeking dedicated exposure to listed property as a distinct asset class, differentiating itself through specialist sector focus rather than broad diversified equity mandates. The firm has built a strong reputation among global listed real estate managers based in the Asia-Pacific region.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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