HOT TOPICS:  Top 10   |   Housing affordability  |  LVRs                                                       KEY RESOURCES:    Economic calendar   | Farms for sale

Commercial property syndications

Posted in Saving

This is a list of the proportionate ownership schemes, and commercial property syndications that we are aware of. We are seeking readers help to compile this list to make it more comprehensive, and add or correct the details on this page.

Much of this data has been sourced from Companies Office records, some from other public sources. But not all transactions have needed to be reported publically.

Anecdotal information suggests that more than $1 billion of these deals have been done in the last five plus years, and the actual total may be closer to $2 billion, if the claims of the various promoters can be verified. On that basis, this page may account for less than half the actual level of deals. Markets are always better served with comprehensive and accurate information about recent transactions.

If you can assist with upgrading the information on this page, please email us at syndications@interest.co.nz

 
Promoter
Property name
Date offer closed
Initial purchase price
$(000)
Initial bank borrowing $(000) Initial investor funds $(000)

# of
units or
shldrs

Initial forecast return %
Last property valuation $(000)
Date of valuation Current bank loan balance $(000)
 
 
                   
                   
    Lindis Investments Jun-04 6,386 3,200 3,404 8 9.75% 7,570 Mar-06 3,182
    Mt Dasher Investments Sep-04 6,138  2,493  3,510  11  9.35%  6,500 Mar-09  2,493
    Tarras Investments Sep-04 6,574 2,806 3,900 10  9.35% 6,870 Mar-09 2,758
    Tairei Peak Feb-05 14,212  7,238  7,238  11  9.35%  20,097 Mar-07  7,238
    Mt Ida Investments Jun-05 6,886  3,231  3,800 11 9.35% 5,500 Mar-09 3,056
    Mt Iron Investments Aug-05 6,315  2,935  3,500  7  9.35%  8,200 Mar-09  2,935
    Mt Piza Investments Nov-05 8,078 3,775 4,500  8 9.35% 9,750 Mar-09 4,206
    Quay Investments, Wgtn Feb-06 5,848  2,952  3,000 7 9.35% 6,700 Mar-09 5,101
    Eichardts Investments Nov-06 8,187  3,816  4,401  9 9.54% 8,900 Mar-09 3,816
    Wickliffe Investments Apr-07  8,109  3,769  4,500   9.54%      
    Berkley Investments Dec-08  19,786  8,997  10,906  18 9.00% 19,900 Mar-09 8,997
    Brinkburn Inv, Porirua Mar-09  12,000  5,500  6,605  11 9.00% 12,000 Mar-09  5,500
    Domet Investments Sep-09  12,239  5,469  7,000   9.00%      
    Obie Investments Jun-10  12,000  5,469  7,000          
    Eight 8 Seven 6, Wgtn unknown                
    Kyburn Investments Wgtn Apr-11  17,708  9,700  9,500 19   17,300 Mar-12  
        ======= ======= ======= =====   =======   =======
  Interim totals for Anaro   155,465 71,345 82,763 130   129,287   49,280
                       
    "Anaro specialises in commercial property investment and manages a portfolio with an approximate value of $400 million throughout New Zealand." from the promoter's website.  
                       
 
Promoter
Property name
Date offer closed
Initial purchase price
$(000)
Initial bank borrowing $(000) Initial investor funds $(000)

# of
units or
shldrs

Initial forecast return %
Last property valuation $(000)
Date of valuation Current bank loan balance $(000)
                       
  Augusta Funds Management                  
    Hawkes Bay DHB Bldg  Oct-05      4,600 84        
    Contact Energy Building Dec-05       5,500 110        
    APN Building Nov-08  15,600    8,450 169 10.00% 15,850 Mar-10  
    Bendon HQ Feb-09  19,100    10,100  202 10.00% 19,410 Mar-10  
    510 Mt Wellington May-09  25,500   10,200  15,500  310 10.00%   Mar-10  
    Downer EDI Jun-10  3,250     2,250 45 9.00% 3,500 Mar-10  
    Countdown Fraser Cove Sep-10  15,580  7,000   9,150  183 9.00%  15,580 Sep-10  
 
 
Countdown Westgate
Dec-10
16,340
7,407
  9,600
192 8.50%
16,675
Oct-10  7,407
    ENZA, Hastings Apr-11 16,961 6,815 11,000 220 10.50% 17,000 Feb-11 6,815
    9 City Rd, Auckland 2007     5,800 100        
    Countdown, Huntly 2011     5,400 109        
    King St, Hastings 2012     11,000 11        
    Dominion Rd, ASB Centre Jul-12 26,731 6,750 17,000 340 9.00% 28,500 Jun-12  
    Carters, Tauranga Mar-12 6,600 2,350 4,350 87 9.00%      
    Hugo Johnson Dr, Penrose Apr-13 14,209 5,900 9,600 192 9.00% 14,650 Feb-13  
                       
        ======= =======
=======
=====  
=======
  =======
  Interim totals for Augusta   159,871  39,672
88,990
 1,779   130,544   14,222
                       
    "The other division is Funds Management, where it is the market leader in commercial property syndication. Through our subsidiary Augusta Funds Management, we have established over 16 commercial property syndicates valued at over $200m." from a recent offer document.  
                       
 
Promoter
Property name
Date offer closed
Initial purchase price
$(000)
Initial bank borrowing $(000) Initial investor funds $(000)

# of
units or
shldrs

Initial forecast return %
Last property valuation $(000)
Date of valuation Current bank loan balance $(000)
                       
  Commercial Investment Properties                
    Church St 300, Onehunga Oct-03 3,950 1,700 2,410 15 11.21% 5,350 Mar-09  
    Leven JV, Invercargill Mar-04                
    Neilsen & Galway Mar-04    1,190  1,770  11 10.15%      
    Fairburn House, Otahuhu Mar-04  3,150  1,146  2,150  15 10.28% 7,450 Mar-09  
    Studio Prop, Henderson May-04                
    North Properties, Keri Keri May-04 4,000   2,280  19 9.25%      
    Watts Road Ltd, Chch Aug-04 4,500  2,370  2,355    9.00%      
    Montgomerie Ave, Akl Mar-10 4,200  2,365  2,050 41   4,200 Mar-10  
    Airways JV, 20 SWP Drive, Chch Mar-10  16,950  8,600  8,900  178 7.91% 16,950 Mar-10  
    Coca Cola Distn Center, Palm Nth Mar-10  6,500  2,600  3,900  78 9.00% 6,600 Mar-10  
    Bunnings, Tauroa St, Whangarei Nov-10  13,596  6,100  8,000  160  9.00%  13,750 Jun-10  
    10 Rothwell Ave, Albany, Akl Nov-11     8,650 173 10.00%      
    7 Rennie, Mangere, Akl May-12                
                       
                       
        ======= ======= ======= =====   =======   =======
  Interim totals for CIP    56,846  26,071  42,465  690    54,300  
                       
    "Commercial Investment Properties Limited currently has 26 properties under management and has syndicated approximately $160 million of commercial real estate." from the promoter's website.  
                       
 
Promoter
Property name
Date offer closed
Initial purchase price
$(000)
Initial bank borrowing $(000) Initial investor funds $(000)

# of
units or
shldrs

Initial forecast return %
Last property valuation $(000)
Date of valuation Current bank loan balance $(000)
                       
  KCL Property                  
    Western Star Trucks, Wacol, QLD  Mar-09     8,000 40        
    Arrenway Drive, Albany, Akl May-09  9,400 4,500  5,000  100 9.50%      
    Mulford Plastics, Penrose, Akl Jun-09                
    Courtenay Pl, New Plymouth Jun-09                
    Link Drive, Wairau Valley, Akl Jan-10      4,250  85 8.25%      
    Lambie Drive, Manukau Cty, Akl Jun-10  15,900  5,900  10,000  40 8.25%      
    Vickers Rd, New Plymouth Dec-10  19,000  8,598  11,250 225 9.25%      
    Ronwood Ave, Manukau, Akl ??                 
    Bush Rd, Albany, Akl ??                 
    Broadway, Newmarket, Akl ??                 
    Fraser Rd, Mt Wellington, Akl Apr-11 9,250 3,530 6.250 25 6.00% 10,440 Feb-11  3,530
     Hutt Rd, Kaiwharawhara, Wtgn Jul-11 8,600 3,411 5,500 110 9.25% 8,600 Mar-11  3,411
    21A Porana Rd, Nth Shore, Akl Sep-11         8.25%      
    265 Albany Hwy, Akl Dec-12     6,900 138 12.20%      
    Richmond Center, New Plymouth Mar-12     2,100 42 9.25%      
    Trafalgar Sq. Wanganui ??     12,000 24 12.25%      
    Countdown, New Plymouth May-12 15,800 8,300 7,500 150 8.75%      
    Swanson Rd, Henderson, Akl Sep-12     15,400 308 9.50%      
    Ellerslie Hwy, Auckland Jan-13     3,000 12 8.50%      
                       
        ======= ======= ======= =====   =======   =======
  Interim totals for KCL   77,950 34,238 97,150 1,119   19,040   6,941
                       
    "The KCL Property group of companies has been active in property syndication since the mid 1990s with the Manager currently managing 60 active property syndicates with total property assets under management in excess of $450 million spread across 130 commercial properties." from the Dec-10 Offer document. A May 2011 offer says "$450 million of property under management and 45 syndicates".  
                       
 
Promoter
Property name
Date offer closed
Initial purchase price
$(000)
Initial bank borrowing $(000) Initial investor funds $(000)

# of
units or
shldrs

Initial forecast return %
Last property valuation $(000)
Date of valuation Current bank loan balance $(000)
                       
  Oyster Group                  
    Angelsea, Hood, Knox, Hamilton Oct-91  1,400      12        
    Grosvenor Motor Inn, Hamilton Dec-96        16        
    456 Angelsea, Hamilton Jan-98        1        
    468 Angelsea, Hamilton Jan-98        1        
    307 Sandwich Rd, Hamilton Dec-98  1,475      5        
    WINZ, Main St, Palm Nth Oct-99  1,790      7        
    Flagstaff, Hamilton Jul-01  3,170      7        
    Westpac, Hamilton Aug-01  9,200      17        
    Bayleys Bldg, Hamilton Jan-02        1        
    Bryant Rd, TeRapa, Hamilton Mar-02  2,970     6        
    Carlton Gore Rd, Nwmrkt, Akl Feb-03  16,094      19        
    Noel Leeming, Botany Downs, Akl Apr-03  7,150     12        
    Angelsea Tower, Hamilton Jul-03  6,530      17        
    Avanti Finance bldg A, Grn Lane, Akl Sep-03 13,200       42        
    Avanti Finance bldg B, Grn Lane, Akl Sep-03        14        
    Lincoln Rd, Henderson, Akl Nov-03  11,830     36        
    Wakefield St, Wgtn May-04  21,000      76        
    Gt Sth Rd, Grn Lane, Akl Sep-04  13,180      47        
    60 Kyber Pass, Akl Jun-05  10,200    4,100  41        
    Countdown x2, Tauranga, Napier Jun-09      10,000 100        
    High Holland, Lower Hutt May-10  17,500 5,500 11,800  118  8.90%      
    2 Kitchener St, Akl unknown          7.78%      
    246 Queen St, Akl 2006  26,000    13,500  27 9.00%      
    141 The Terrace, Wgtn 2006  21,300      133 8.50%      
    135 Victoria St, Wgtn Aug-08   9,200      62 10.00%      
    102 Rosedale Rd, Albany Dec-10       32        
    12 Foreman Rd, Hamilton         12        
    47 Bryant, Hamilton         5        
    Countdown, Papakura Aug-11 8,750 4,260 4,800 48 9.36% 8,800 Jun-11  
    Mitre10Mega, Pukekohe May-12 10,315 5,050 5,600 56 9.00%      
    Mitre10Mega, Henderson Oct-12     14,000 140        
    29 Goodfellow, Hamilton Jun-13 3,400 0 3,400 17 8.00%      
        ======= ======= ======= =====   =======   =======
  Interim totals for Oyster   215,654 14,7200 67,200 1,127   8,800   -
                       
    "We currently have over 600 investor clients many of whom invest in multiple properties. The Oyster portfolio is currently valued at over NZD$250M, with gross rentals exceeding NZD$25M per annum." from the promoter's website.  
                       
                       
 
Promoter
Property name
Date offer closed
Initial purchase price
$(000)
Initial bank borrowing $(000) Initial investor funds $(000)

# of
units or
shldrs

Initial forecast return %
Last property valuation $(000)
Date of valuation Current bank loan balance $(000)
                       
  SPI Capital                  
    Sultan St, Ellerslie, Auckland  Sep-04 4,300   1,777 na   9,200  unknown  
    Bell 1, WIT, New Plymouth Dec-05  4,850    2,475  99        
    Bell 2, WIT, New Plymouth Dec-05 4,850    2,450 49   4,870  unknown  
    19 Sheffield Cres, Chc Jan-07 6,200   3,200  64 8.50% 6,200  unknown  
    HP Home Centre, Pakuranga Oct-05 8,930    4,550  91 9.00% 9,730  unknown  
    Gloucester St, Chc May-05 10,200    5,375 215   10,680  unknown  
    656 Gt Sth Rd, Penrose, Akl Sep-03 11,200   5,900 59   13,900 unknown  
    80 Hunua Rd, Pakuranga Akl Aug-06 12,870   7,500 150   11,800 unknown  
    66 The Square, Palm Nth Aug-09  12,750    8,950 179 9.50%      
    18 Lambie Drive, Manukau Jan-09       7        
    Times House, East Tamaki, Akl Oct-09     3,600 72 9.25%      
                       
        ======= ======= ======= =====   =======   =======
  Interim totals for SPI   76,150   45,777 985   63,380   -
                       
    "SPI Capital aims to build a diversified portfolio of assets in the office, retail and industrial sectors throughout New Zealand. It currently has over $135 million of property assets comprising of 15 properties."  from the company's website.  
                       
                       
 
Promoter
Property name
Date offer closed
Initial purchase price
$(000)
Initial bank borrowing $(000) Initial investor funds $(000)

# of
units or
shldrs

Initial forecast return %
Last property valuation $(000)
Date of valuation Current bank loan balance $(000)
                       
  Goddard Holdings                  
    Goddard Center, Tauranga Oct-09 13,000 6,500 7,725 103 9.50%      
                       
  Maat Consulting                  
    Walton Plaza, Whangarei Dec-10 12,550 5,648 7,400 296 10.00% 12,600 Oct-10  
    Ha Crescent, Wiri  Feb-10         9.50%      
    Bush Rd, Albany Aug-10         8.90%      
    Bunnings, Whakatane (open) Dec-11 7,415 3,337 4,375 175 9.35% 7,500 Nov-11  
         ====== ====== ====== ====   =====    
         19,965 8,985 11,775 471   20,100    
  Ocean Partners                  
                       
  Glaister Ennor                  
                       
  Radius Properties                  
    Peppertree, Palm Nth Dec-04 3,650              
    Thornleigh, New Plmth Aug-04 2,625              
    Seaview, Whangarei Jul-04 1,600              
    Maeroa Lodge, Hamilton May-04 6,650              
    Baycare, Paihia Sep-06 2,610              
    Arran Court, Henderson Jan-07 10,500              
    Karina, Palmerston Nth Oct-07 2,645 0 2,850 114 14.60% 2,540 Mar-10 99
                       
        ======= ======= ======= ====   =======   =======
  Interim totals for Radius    30,280  -  2,850 114   2,540   99
                       
                       
                       
  St Laurence                  
                       
  IPT Bayleys                  
    Portage Rd, New Lynn Mar-02     2,400 24  11.77% 5,800    
    Gabador Pl, Mt Wtgn, Akl Nov-02     5,600 56  12.00% 12,300    
    Brigade Rd, Airport, Akl Apr-03     2,500 50  9.00% 4,870    
    Scotia Place, Akl Sep-03     5,100 102  10.65% 7,700    
    Pages Rd, Chc May-04     2,500 50  9.00% 4,400    
    Bradshaw St, Dunedin Jun-04     2,100 42  9.00% 3.980    
    Beach Rd, Otahuhu, Akl Nov-04     8,600 172 9.00% 14,650    
    Paisley Pl, Mt Wtgn, Akl open  16,400 7,380 10,200 408 10.00% 17,550 Jan-11  
        ======= ======= ======= ====   =======   =======
  Interim totals for IPT Bayleys    16,400 7,380 39,000 904   71,250    
                       
  ============================   ======= ======= ======= =====   =======   =======
  PAGE TOTALS ...   822,481 215,750 525,735 8,177   498,922   73,320
                       
                       

If you can assist with upgrading the information on this page, please email us at syndications@interest.co.nz