Precinct Properties to sell half-stake in Auckland's ANZ Centre for $181 mln

Thu, 28 Jun 2018

By Paul McBeth June 29 (BusinessDesk) - Precinct Properties New Zealand has signed a binding deal to sell its 50 percent stake in ANZ Centre in downtown Auckland to a fund managed by US investment firm Invesco for $181 million, in line with the building's current valuation. Auckland-based Precinct attracted strong interest from a number of parties and had previously said indicative bids were north of the $324 million valuation as at June 30, 2017. The commercial property investor today said the sale price was in line with the 2018 valuati...

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