Property For Industry has US private placement on standby

Property For Industry has US private placement on standby
PFI chief executive Simon Woodhams says valuers have few transactions to go on. (Image: PFI)
Jenny Ruth
Hot on the heels of Ryman Healthcare’s costly unwinding of its United States private placement, Property for Industry has revealed it has just negotiated one.The industrial property specialist established an up to US$250 million (NZ$400m) United States private placement (USPP) in August last year with Pricoa Capital Group, which is part of Prudential Financial, one of the US’s largest insurance companies, but Property for Industry (PFI) has yet to draw on it.Chief financial officer Craig Peirce told analysts that the company might d...

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