PMG targets up to $20m in first equity raise of the year

The building at 156 Fanshawe St offers high-end Auckland exposure. (Image: PMG)

Thu, 16 Nov 2023

PMG Funds has picked what it calls a “low point” in the commercial property cycle as a good time to raise capital and will tap investors for $10 million-$20m to buff up its Direct Office Fund.It’s the first retail investment offer of the year for the Tauranga-based property syndicator and manager, with units in the fund offered at 95 cents, the lowest point since the fund’s inception in 2016.It has pegged its minimum equity raise at 6.25 million units, or $5.94m, with a maximum of 21 million units on offer, or...

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