JENNY RUTH: Covid-slimmed Augusta syndicate relaunched

Mon, 03 Aug 2020

The relaunched Augusta Property Fund was always going to be an inferior offer because the coronavirus crisis tanked the planned purchase of one of its two properties. Instead of a $152.8 million fund owning a big-box retail centre in Albany and a medical centre in Hamilton, the offer is going ahead with just the medical centre and the fund's estimated set-up costs, including equity and borrowings, will total $58.5 million. The equity component that investors are being invited to pay will be $35.5 million as opposed to the originally plann...

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