Booster Investment Management Limited has added three Southland dairy farms to its Private Land and Property Portfolio (Wholesale Fund), providing diversification in sector and geography and a market rent review every three years.
The purchase price of the three properties is $32.7 million and funded via existing cash, newly subscribed units and funding from a new debt facility.
This purchase increases the property-related asset exposure of the Wholesale Fund to over $135 million, and net assets after net debt to over $115 million.
Investors can purchase units in PLP on the NZX or subscribe for units in the fund.
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