Kiwi Income Property Trust, New Zealand's largest listed property entity, has raised $50 million to buy Unisys House in Wellington.
Thursday, May 6th 2004, 10:09PM
by The Landlord
Chief executive Angus McNaughton said the trust had placed 49,504,950 units at $1.01 with institutional investors.
Kiwi has more than $1 billion of assets, including Vero Centre, New Zealand's tallest office tower.
Kiwi will buy the building for $44 million and the new units will be issued tomorrow. But these unit-holders would not receive the final dividend for the March year, due to be paid in June, McNaughton said.
