PMG to buy two substantial properties
The two properties, bought by Tauranga based unlisted funds manager PMG, are for PMG’s Generation Fund, which has five commercial properties within the country’s main metropolitan areas.
Following the acquisition of the two properties, the total portfolio will be valued at $166 million.
PMG CEO and director Scott McKenzie says the two properties have a high occupancy rate and are leased by recognised national and multi-national tenants.
Bethlehem Town Centre on the outskirts of Tauranga is a high profile, large format retail property and is owned by a Canadian pension fund and a private New Zealand family. It is managed by AMP capital.
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