Kiwi Property Group to sell North City Shopping Centre for $100 million

Tue, 10 Apr 2018

By Rebecca Howard April 11 (BusinessDesk) - Kiwi Property Group, which manages a $3.1 billion portfolio of shopping centres and office buildings, is selling North City Shopping Centre in Porirua, for $100 million to a private investor. "North City had been identified for sale as part of our capital recycling programme designed to fund current investment priorities," said chief executive Chris Gudgeon in a statement to the stock exchange Proceeds from the sale, due to settle in July 2018, will be used to pay down bank debt and provide furt...

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