Fund managers in property deals
Fund managers were involved in two significant property announcements yesterday. St Laurence Group is set to buy the Finance Centre in Auckland for a little over $100 million and ING completed its Urbus purchase.
Thursday, August 12th 2004, 4:48PM
by The Landlord
Trans Tasman Properties Limited is set to sell the Finance Centre Complex in central Auckland to St Laurence Property & Finance Limited.The conditional deal is for $101.15 million cash and represents around 98% of Trans Tasman's carrying book value for the property
St Laurence has until September 14 to carry out due diligence. The complex comprises four buildings with a total net lettable area of 40,900sq m and 497 carparks. Located on Queen Street, the centre fronts onto both Victoria and Albert Streets.
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