Augusta buys $58.5 mln retail property for syndication

Tue, 23 Dec 2014

By Paul McBeth Dec. 24 (BusinessDesk) - Augusta Capital, the listed property investor and fund manager, has bought the Southgate Centre retail site in Auckland's Takanini, which it plans to put on the market for syndication. The Auckland-based firm will spend $58.5 million buying the property from Retail Holdings which is fully occupied, and plans to syndicate the site before the April 30, 2015 settlement date, it said in a statement. The syndicate offer will need $34.3 million of investor equity to be raised in $50,000 units, of which Au...

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