Goodman to pay $290m to bring management in-house

(Image: Goodman)

Mon, 26 Feb 2024

Goodman Property Trust will pay $290 million to its Australian-listed management company and shareholder Goodman Group to internalise its management function.Bringing management in-house will cost the country’s largest listed industrial landlord $272.4m and $17.6m for its co-owned investment properties. Goodman Group has been the manager and cornerstone investor in the New Zealand listed property vehicle since 2003.Assuming unitholders sign it off, the agreement will subscribe Goodman Group for new Goodman Property Trust (GMT) units...

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