2000 new investors flock to latest commercial property deal
The company has closed its latest offer in its PMG Generation Fund raising $ million
The funds will be used to purchase a high-profile Tauranga shopping centre and a sought-after industrial property in Wellington.
Funds raised by the offer, along with conservative bank borrowings, have been used by PMG Generation Fund to acquire Bethlehem Town Centre in Tauranga for a total of $107.6 million and an industrial property at 11-13 Gough Street in Seaview, Wellington, which is tenanted by steel supplier and distributor HJ Asmuss & Co.
This now brings the total portfolio value of the Fund to an estimated $166 million. The fund owns five quality commercial properties located within main metropolitan centres across New Zealand and is underpinned by notable tenants, some of which are classed as essential services and provide further confidence around the fund’s income resilience for investors.
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