Du Val BTR fund hunts new banking suitor

The McKenzie Rd property in Māngere Bridge has dipped in value by $1.33m to $13.31m. (Image: Du Val)

Mon, 30 Oct 2023

Du Val’s build-to-rent fund will need to seek a new lender in the next eight months, ahead of the expiry of its loan from state-owned China Construction Bank in June 2024.Fund managing director John Dalzell said the partner was now exploring “suitable banking options” on the expiry of the loan.The fund, managed by Du Val Capital Partners, also left its build-to-rent fund distribution unchanged at 2.25% during the past quarter. That was after interest and other expenses absorbed 60% of the half-year’s $1.55 mill...

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