BlackRock funds Westgate development

Auckland's Westgate Town Centre includes Restaurant Brands' KFC and Carl's Jr. (Image: NZME)

Thu, 12 Sep 2024

BlackRock has made its first private credit investment in New Zealand, financing development in Auckland’s Westgate as part of a $235 million package.The deal just inked will benefit Westgate Town Centre, which includes Costco, a surrounding mall, and mega–box retailers. Nomura arranged the package for property investor NZ Retail Property Group (NZRPG), and financiers include the Japan-headquartered bank and BlackRock, alongside Hong Kong-based Tor Investment Management. “This deal underscores their confidence in NZ...

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