27 Jan '15, 10pm

Auckland property deal with Singapore's GIC gets OK (Business) #newzealand #nznews

Auckland property deal with Singapore's GIC gets OK (Business) #newzealand #nznews

Auckland property deal with Singapore's GIC gets OK CATHERINE HARRIS Last updated 11:42, January 28 2015 JOINT VENTURE: Auckland Viaduct where Goodman Property Trust is partnering with GIC to invest. A Singaporean sovereign wealth fund has been given permission to buy a 49 per cent stake in a $313 million portfolio of Auckland Viaduct properties. The Overseas Investment Office has agreed to let Singapore-based GIC invest in a joint venture with Goodman Property Trust. The trust owns a portfolio of Viaduct properties including the Air New Zealand building, the Fonterra building which is still under construction, and a half share in the Viaduct Corporate Centre. The joint venture can now go unconditional and settlement is expected in February. John Dakin, chief executive officer of Goodman Property's manager Goodman (NZ), said having a "strongly aligned" capital partner woul...

Full article: http://www.stuff.co.nz/business/industries/65492231/auckl...

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