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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

Goodman and Singaporean fund buy $86.2m Wynyard property

Posted on 27 March 2015

NZX-listed Goodman Property Trust will end up owning 51% of a new building on Auckland’s waterfront,with the balance held by Singapore’s sovereign wealth fund, GIC. The site of the $86.2 million building has been cleared for earthworks and completion is expected during 2017.
It is being built by Fletcher Building and will be leased to Datacom, which has taken naming rights. Goodman’s relationship with the Singaporean fund was set up last year via a joint venture called Wynyard Precinct Holdings, with plans to build an initial $300 million portfolio………………………………………..Full Article: Source


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