The international distribution centre of EziBuy at 31 El Prado Drive, Palmerston North. Photo / Supplied
The international distribution centre of EziBuy at 31 El Prado Drive, Palmerston North. Photo / Supplied
The 26-year-old, Property Managers Group (PMG) has opened the largest offer to date in its Fund-Source AA rated diversified and unlisted commercial property company, Pacific Property Fund Ltd.
PMG chief executive Scott McKenzie, says the company is aiming to raise $37.44 million in new investor capital by December 7, toassist with the acquisition of two quality industrial properties for its portfolio.
These are 33 Vickery St, Hamilton, tenanted by Alto Packaging; and 31 El Prado Drive, Palmerston North, which is the international distribution centre for EziBuy.
Pacific Property is offering investors 36 million shares, at $1.04 cents each, targeting a gross cash distribution return (net of expenses but before tax) of 7.25 cents-per-share for the full financial year to March 31, 2020.
The minimum investment is 20,000 shares ($20,800), with multiples of 10,000 shares ($10,400) available thereafter.
