UPDATE: Stride says 'stapled structure' protects PIE status while funds management grows

Mon, 30 May 2016

(Recasts to add comment from CEO, details of stapled structure) By Paul McBeth May 30 (BusinessDesk) - Stride Property has proposed splitting its property-owning unit from its real estate investment management in a 'stapled structure' that would allow it to expand the management arm while preserving its favourable tax status. The Auckland-based company made the announcement while posting a 16 percent gain in full-year earnings driven by its expanding property portfolio, which has portfolio investment entity (PIE) tax status. It wil...

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