PMG successfully completes capital raise
The fund has now acquired the 5 Green-Star rated Vodafone Innov8 building at Tuam Street, Christchurch.
PMG chief executive, Scott McKenzie, says capital raise took place in a time of much investor uncertainty.
“The current economic climate is naturally generating investor wariness so we are thrilled to have received the support and interest from both existing and new investors in this offer.”
McKenzie says the success of the Offer was due to a number of factors including the diversified nature of PMG Direct Office Fund with eight quality commercial properties geographically spread across the country with over 75% of the income generated by resilient Government, telecommunication and professional services tenants.
“The fund’s consistent, monthly gross cash distributions (returns) of 6.4%
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