Structure

CDI is constituted by two trusts, Challenger Diversified Property Trust 1 and Challenger Diversified Property Trust 2, the units in which have been stapled. Challenger Listed Investments Limited (CLIL) is the Responsible Entity of both trusts. Each unit in CDI comprises a unit in both trusts. The effect of the stapling is that units in the two trusts may not be traded separately.

Challenger Diversified Property Trust 1 holds CDI's 'passive' property assets. Challenger Diversified Property Trust 2 has been established so that it may undertake 'active' property transactions (including developments) on behalf of CDI.