Precinct Properties New Zealand Limited (Precinct) and Singapore sovereign wealth fund GIC have announced the acquisition and completion of Wynyard Quarter Stage 3 by Precinct Pacific Investment Limited Partnership (PPILP).
On completion, the investment partnership will comprise five assets in Auckland and Wellington.
Precinct will manage the properties under the terms of an investment management agreement and has a 24.9% ownership interest in the Limited Partnership.
Settlement is expected to occur in early 2023.
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