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Moody’s Investors Service says that the poor state of housing affordability in Auckland — despite a recent improvement driven by rising incomes and low interest rates — is credit negative for New Zealand covered bonds. “Rising household incomes and record low interest rates have prevented a deterioration in housing affordability in New Zealand over the …
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Australian-based fund manager New Forests has announced the launch of its third investment fund dedicated to Australian and New Zealand forestry investment, with more than AUD 660 million in capital commitments. The Australia New Zealand Forest Fund 3 (ANZFF3) will invest in a diversified portfolio of hardwood and softwood plantation assets in Australia and New …
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Commercial property company, Oyster Group, has purchased the Millennium Centre business park at 600-604 Great South Road in Auckland for just over NZ$210 million, at a yield of 7.25%, with settlement due at the end of February 2017. The sale is understood to be New Zealand’s largest ever single office transaction. The Millennium Centre is …
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SCA Property Group has entered into a conditional sale contract with Stride Property Group for the sale of SCA’s New Zealand portfolio to a newly established Stride-managed entity, Investore Property Limited . The contract is conditional upon a successful initial public offering of shares in Investore to be completed on or before 30 June 2016. The …
