Syndications raise $30.3m
Two syndications marketed by Brian Caldwell of Bayleys North Shore Commercial have recently raised a total of $30.3m in investors' equity. A public syndication on behalf of Maat Group offering 386 share parcels of $50,000 share in the five-level Unisys office building at 650 Great South Rd, Ellerslie closed over-subscribed. Investors were offered an initial projected 9 per cent annual pre-tax return from the property which is leased by a variety of Crown tenants, Unisys and Fletcher Building. Caldwell also completed a private syndication raising equity of $11m with18 wholesale investors acquiring an Albany commercial property comprising two office buildings and a childcare centre by way of a limited partnership structure.
Wakefield St development site
Brice Clark of Whillans Realty Group has sold a 768sq m site at 57-59 Wakefield Street for $6.2m representing $8075 per sq m. The property has dual street frontage to Airedale St and Wakefield St with a 50 metre height limit and a maximum floor area ratio of 8:1. The property is occupied by a three-level commercial building but has been purchased for an apartment building development.
Tauranga office and warehouse
