An artist's impression of a Christchurch PMG Direct Childcare Fund childcare centre on completion in November. Photo / Supplied
An artist's impression of a Christchurch PMG Direct Childcare Fund childcare centre on completion in November. Photo / Supplied
Property Managers Group (PMG) has launched investment opportunities in two wholesale investment portfolios.
CEO Scott McKenzie says the launch comes just after NZX-owned FundSource gave PMG's two retail funds, PMG Pacific Property Fund Limited and PMG Direct Office Fund, AA performance ratings.
"Over the past two years we have workedhard to deliver on investors' requests for more diversification within existing funds, as well as providing them access to higher possible rates of return and exposure to growing areas in the commercial property investment sector," says McKenzie.
The childcare centre now under construction at 126 Dynes Rd, Rolleston, Christchurch. Photo / Supplied
• PMG Direct Childcare Fund offers wholesale investors 5,500,000 units at $1 per unit, targeting a strong gross cash distribution return of 6.5 per cent per annum for the full financial year to March 31, 2019, with a minimum investment of $100,000. The fund is targeting a 10 per cent internal rate of return for this period. It backs quality fit-for-purpose early childhood learning centres in strategic and growing areas across New Zealand. The latest issue is to raise the funds to develop new childcare properties in Hamilton and Pukekohe, bringing the number of centres in the fund to five. • PMG is also offering up to 12 million shares at $1 per share in PMG Capital, targeting a minimum gross distribution return of 10 per cent per annum, with minimum investment parcels available from $250,000. This is PMG's real estate/private equity fund. It acquires quality real estate, transferring it into one of PMG's investment funds after adding value, underwriting, or as a short term buy/sell transaction.
