DNZ Property to buy Countdown supermarket properties for $287M, raise up to $129M

Tue, 22 Sep 2015

By Paul McBeth Sept. 23 (BusinessDesk) - DNZ Property Fund, which is rebranding as Stride Property, has entered into a deal to buy a supermarket property portfolio for $287 million, and will help fund the acquisition by raising up to $129 million of new capital. Auckland-based DNZ has entered into a deal with Antipodean Supermarkets and Antipodean Properties to buy 19 Countdown supermarket sites leased to Woolworths, which it expects will lift distributable profit per share by between 1.3 percent and 1.8 percent in the first three full ye...

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