01 · Overview
Fund overview
The Spire USA ROC III Fund (AUD (the “Fund”) was established in 2016 and acts as an unhedged Australian feeder fund into the assets of Bridge Multifamily & Commercial Office Fund III, LP (“BMF III”) (the “underlying fund”). As communicated in July 2023, The Investment Manager advised the underlying fund was subject to conditional fund recapitalisation.
The Fund has approached the final stages of closure. The Fund’s termination will occur after the complete redemption and liquidation of the the Bridge Multifamily Fund III L.P (the ”Underlying Fund”).
Source: Spire Capital fund page, spirecapital.com.au, 28 October 2026.
02 · Facts
Fund facts
- Investor type
- Wholesale and retail investors
- APIR
- ETL0460AU
- Trustee and fund manager
- Spire Capital Limited
- Investment manager
- Bridge Investment Group
- Underlying fund
- Bridge Multifamily Fund III LP
- Asset class
- Global Real Estate
- Vintage year
- 2016
- Distributions
- Annually as at 30 June
- Structure
- Closed-end unit class of the Spire Capital Master Fund, no redemptions
- Status
- Closed to new investment
- Currency
- AUD, unhedged
03 · Performance
Performance
Unit price
AUD 0.0150
As at 30 June 2026
Since inception
11.91%
Net IRR p.a.1
Net return by period to 30 June 2026
| Period | Net return |
|---|---|
| 3 months | -1.32% |
| 6 months | -4.46% |
| 1 year | -10.18% |
| Since inception p.a.1 | 11.91% |
1Performance since inception is measured as the Internal Rate of Return since inception. The IRR is the annualised rate of return that equates the amount and timing of irregular cashflows since inception with the period end value. The IRR replaced the time weighted since inception return, effective from 30 June 2023. Source: Spire Capital, as at 30 June 2026.
04 · Distributions
Distribution history
Cash distribution per unit by period (cents)
| Period | Cash (CPU) | FITOs (CPU) | Ex-distribution unit price (AUD) | Components |
|---|---|---|---|---|
| 30 June 2025 | 2.2731 | Nil | 0.0167 | Components notice (PDF) |
| 30 June 2024 | 0.2711 | 0.0270 | 0.0387 | Components notice (PDF) |
| 31 August 2023 | 18.1548 | 1.8066 | 0.0402 | Components notice (PDF) |
| 30 June 2023 | 3.4113 | 2.1620 | 0.1825 | Components notice (PDF) |
| 30 September 2022 | 9.1516 | 5.8002 | 0.4780 | Components notice (PDF) |
| 30 June 2022 | 13.3358 | 2.1522 | 0.5346 | Components notice (PDF) |
| 31 December 2021 | 5.44459 | 0.8789 | 0.5381 | Not published |
| 30 September 2021 | 10.0000 | 1.6139 | 0.5134 | Not published |
| 30 June 2021 | 16.4332 | 2.2673 | 0.5484 | Components notice (PDF) |
| 31 December 2020 | 14.8108 | Nil | 0.6284 | Not published |
| 30 June 2020 | 6.0701 | 1.4418 | 0.7733 | Components notice (PDF) |
| 31 December 2019 | 21.6043 | Nil | 0.7955 | Not published |
| 30 June 2019 | 26.4595 | 1.5624 | 0.9283 | Components notice (PDF) |
| 30 June 2018 | 7.4290 | Nil | 1.0271 | Components notice (PDF) |
| 30 June 2017 | 2.1829 | Nil | 0.9233 | Components notice (PDF) |
CPU: cents per unit. FITOs: foreign income tax offsets. Source: Spire Capital, fund distribution records, as published on spirecapital.com.au, 28 October 2026.
05 · Documents
Documents and forms
Monthly reports and manager updates are issued to investors through the Spire Investor Portal.
The fund is closed to new investment. Existing investors can transfer units off market using the transfer form, and update their details with the forms listed. Enquiries to info@spirecapital.com.au.
Investor login[Disclaimer: existing Investment Solutions wholesale wording, unchanged, subject to compliance review.] Past performance is not a reliable indicator of future performance.