Tuesday, 20 April 2021, 2:47 pm
Unlisted commercial property funds manager PMG
Property Funds Management Limited (PMG) has fully subscribed
an offer to raise $68 million in its flagship fund, Pacific
Property Fund Limited (the Fund).
PMG Chief Executive
Officer Scott McKenzie says the offer – in one of New
Zealand’s largest directly-held and unlisted commercial
property funds – is the largest opportunity the company
has brought to market to date.
“Given the current
low interest rate environment, the attractive return that
Pacific Property Fund Limited is offering investors, and the
Fund’s highly diversified nature, we knew there was going
to be considerable interest from the public to invest,”