Goldman-Brookfield JV may profit on ex-Serepisos property sales

Mon, 28 May 2012

By Paul McBeth May 28 (BusinessDesk) - A Goldman Sachs-Brookfield Asset Management joint venture stands to gain from the sale of properties once owned by Wellington developer Terry Serepisos after the JV bought a billion-dollar loan portfolio from Bank of Scotland International last year. The Goldman-Brookfield JV is owed $35.8 million as the first secured creditor on the Farmers and Deka buildings on Wellington's Cuba Street, which have been put up for sale, and a further $57.9 million on property in Petone, according to receiver's reports...

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