Organisational Structure
BLP consists of two entities:
- Babcock & Brown Residential Land Partners Trust (the “Trust”), an Australian registered managed investment scheme; and
- Babcock & Brown Residential Land Partners Limited (the “Company”), an Australian public company.
Each Stapled Security issued by BLP comprises a Unit in the Trust and a Share in the Company. These securities are stapled, which means that they can only be bought and sold together.
Distributions of income from the Trust are generally not taxed in the Trust and will therefore be unfranked. Dividends from the Company are generally franked to some extent.
The Company and the Trust are managed by wholly owned subsidiaries of Babcock & Brown, Babcock & Brown Australian Real Estate Management Pty Limited and Babcock & Brown Residential Land Partners Services Limited, respectively.
