Augusta Capital sells Auckland finance centre buildings for $96mln

Tue, 14 Jun 2016

By Sophie Boot June 15 (BusinessDesk) - Augusta Capital, the listed property investor and fund manager, has sold its Auckland Finance Centre for $96 million, dependent on shareholder approval. The company said the net sale price represents a 3.8 percent gain on the current book value of the centre, taking into account $1.16 million capital expenditure it has committed and other sale costs and fees. The planned transaction is staged between October 2016 and April 2019. "Augusta’s current intention is to utilise the net sale proceeds to...

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