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Last Article Uploaded: Thursday, December 2nd, 6:32PM

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Property Manager brings its largest offer to market

Friday, November 9th 2018, 2:28PM 1 Comment

Property Managers Group (PMG) is bringing to market its largest retail Offer in its diversified, unlisted commercial property fund, Pacific Property Fund Limited (Pacific Property).

Managed by PMG, this is the sixth Offer Pacific Property has brought to market since its inception in 2013.

The company is aiming to raise $37.44 million in new investor capital by 7 December 2018 to assist
with the acquisition of two quality industrial properties for its portfolio, 33 Vickery Street in Hamilton, tenanted by Alto Packaging and 31 El Prado Drive in Palmerston North, which is well-known online retailer EziBuy’s international distribution centre.

Pacific Property is offering investors 36 million shares at $1.04 cents per share in Pacific Property, targeting a strong gross cash distribution return (net of expenses but before tax) of 7.25 cents per share for the full financial year to 31 March 2020. Starting with a minimum investment of 20,000 shares ($20,800) and multiples of 10,000 shares ($10,400) thereafter.

PMG chief executive, Scott McKenzie says, the additional property acquisitions are in line with Pacific Property’s strategy for ongoing growth and diversification and PMG’s continued confidence in the solidly performing commercial property sector.

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Comments from our readers

On 16 November 2018 at 3:57 pm Graeme33 said:
.....but how do you get your money out in a timely fashion Jimmy Boy ?????...another good example of a product offering not Marked to Market. Graeme adams

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Lender Flt 1yr 2yr 3yr
AIA ▲4.60 3.65 4.35 4.69
ANZ 4.79 4.25 4.95 5.35
ANZ Blueprint to Build 2.03 - - -
ANZ Special - 3.65 4.35 4.75
ASB Back My Build ▲2.29 - - -
ASB Bank ▲4.60 3.65 4.35 4.69
Avanti Finance 4.55 - - -
Basecorp Finance 5.49 - - -
Bluestone 3.74 3.54 3.89 4.09
BNZ - Classic - 3.65 4.35 4.69
BNZ - Mortgage One 5.15 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Rapid Repay ▲4.95 - - -
BNZ - Std, FlyBuys ▲4.95 4.25 4.95 5.29
BNZ - TotalMoney ▲4.95 - - -
CFML Loans ▲5.35 - - -
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.95 - - -
First Credit Union Special 5.85 3.59 4.09 -
Heartland Bank - Online 2.25 1.85 2.35 2.65
Heretaunga Building Society 5.25 4.00 4.60 -
HSBC Premier 4.49 2.19 2.45 2.69
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - 2.25 - -
ICBC 4.15 3.29 3.85 4.19
Kainga Ora 4.43 2.88 3.28 3.59
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank ▲4.25 ▲4.54 ▲5.20 ▲5.54
Kiwibank - Offset ▲4.25 - - -
Kiwibank Special ▲4.25 ▲3.69 ▲4.35 ▲4.69
Liberty 4.84 - - -
Nelson Building Society 4.95 ▲4.29 ▲4.85 -
Pepper Essential 4.79 - - -
Lender Flt 1yr 2yr 3yr
Resimac 3.39 3.54 3.89 4.09
SBS Bank 4.79 3.65 4.19 4.25
SBS Bank Special - 3.15 3.69 3.75
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - ▲3.45 - -
The Co-operative Bank - Owner Occ ▲4.75 ▲3.65 ▲4.35 ▲4.69
The Co-operative Bank - Standard ▲4.75 ▲4.15 ▲4.85 ▲5.19
TSB Bank 5.34 4.09 4.74 4.99
TSB Special 4.54 3.29 3.94 4.19
Unity 5.65 4.15 4.60 -
Wairarapa Building Society 4.99 ▲3.65 ▲4.05 -
Lender Flt 1yr 2yr 3yr
Westpac 5.09 4.25 4.95 5.29
Westpac - Offset 5.09 - - -
Westpac Special - 3.65 4.35 4.69
Median 4.77 3.65 4.35 4.69

Last updated: 2 December 2021 9:14am

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