50% sale of ANZ Centre agreed

29 Jun 2018 3:46 PM | Conrado Langer (Administrator)

Following the announcement made on 23 April 2018, Precinct Properties New Zealand Limited announced today that it has now entered into a binding agreement with a fund controlled by Invesco for the sale of a 50% interest in ANZ Centre in Auckland for $181 million.

Acquired by Precinct in 1997, ANZ Centre has performed well since it became part of the portfolio generating a property level IRR of 9.0%. Precinct completed a $76 million upgrade in 2013 and remains committed to maintaining this building as one of New Zealand’s premium office towers.

Source:  Precinct