Precinct Property and Ngāti Whātua form development joint venture

Precinct Property and Ngāti Whātua form development joint venture
The Te Tōangaroa precinct owned by iwi Ngāti Whātua Ōrākei. (Image: Ngāti Whātua Ōrākei)
Oliver Lewis
A major downtown Auckland developer has taken a stake in two commercial buildings in the Te Tōangaroa precinct owned by Ngāti Whātua Ōrākei as part of a joint venture with the iwi.In an update to the New Zealand stock exchange on Monday, Precinct Properties said it and PAG, one of the largest privately owned investment firms in Asia, were acquiring a 56% stake in two buildings: a nine-level building at 8 Tangihua St and an eight-level building at 30 Mahuhu Crescent, tenanted by BNZ.Precinct was contributing an initial $10 million but...

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