Precinct Properties ups portfolio value 2.6 percent, signs new and bigger bank facility

Thu, 20 Jun 2013

June 21 (BusinessDesk) - Precinct Properties New Zealand, formerly AMP NZ Office, has lifted the value of its property portfolio 2.6 percent on a rising Auckland market, and has signed a new and bigger banking facility with existing lenders. The value of the Auckland-based property investor’s portfolio rose $40 million to $1.64 billion and will be confirmed in August with the annual results, the company said in a statement. Auckland valuations rose about 5 percent, while Wellington was stable. “The Auckland increases were mainly attributab...

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