Augusta goes on $92.8 mln property buying spree for new fund

Mon, 30 Nov 2015

By Paul McBeth Dec. 1 (BusinessDesk) - Augusta Capital, the listed property investor and fund manager, has bought a $92.8 million property portfolio, which it plans to pour into a new unlisted fund for investors next year. The Auckland-based company bought two office and two industrial buildings, and will throw in an existing office block it owns into Augusta Value Add Fund No.1, giving it assets worth some $112 million, it said in a statement. The fund is expected to provide investors yield, with redevelopment or potential re-zoning and...

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