Precinct sells another Wellington building for $76 mln; portfolio value increases

Thu, 25 Jun 2015

By Paul McBeth June 25 (BusinessDesk) - Precinct Properties New Zealand, which raised $174.1 million in March to help fund major developments, sold another property in Wellington's central business district, while saying its latest valuation has bumped up the worth of its broader portfolio. The Auckland-based company agreed to sell its 171 Featherston St building to an undisclosed party for $76 million, which is in line with its latest valuation, it said in a statement. The deal is the latest in a string of asset sales to emphasise its Au...

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