Unlisted Pacific Property Fund seeks to raise $15 mln in share sale

Mon, 18 Jul 2016

By Edwin Mitson July 18 (BusinessDesk) - Pacific Property Fund, an unlisted commercial property fund established three years ago, is seeking to raise $15 million selling shares to buy two Auckland properties and fund the construction of a new warehouse in Tauranga in a move that would double the size of the fund to $46.2 million from about $23 million. Pacific currently owns three sites, an industrial property in Wiri in Auckland, a site leased to Tui Products at Mount Maunganui and a large industrial property in Te Rapa, Hamilton. It is...

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