Augusta to buy NPT management contract for $4.5 mln

Thu, 08 Feb 2018

By Paul McBeth Feb. 9 (BusinessDesk) - Augusta Capital has bought the management contract for real estate investor NPT for $4.5 million, subject to shareholders signing off on the deal at a special meeting next month. Under the deal, Augusta expects to immediately lift management fee income by $900,000 for its base fee of 0.5 percent of assets under management up to $500 million, 0.4 percent on assets above that level, plus other fees, it said in a statement. Augusta, which owns 19 percent of NPT, had to raise its offer after being initi...

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