Kiwi Property today announced the conditional sale of the Aurora Centre in Wellington for $142.8m (net) to an institutional investor, representing a 13.5% discount to the asset’s March 2023 valuation and a property level return from inception of 10.5%.
The sale will enable Kiwi Property to strengthen their balance sheet and reinvest in their mixed-use properties.
Further details, including the purchaser and settlement date, will be provided once key conditions have been met.
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