AUG 0.00% $1.10 augusta capital limited

Ann: ASSET: AUG: Augusta to Syndicate Christchurch Industrial Property

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    • Release Date: 11/02/15 09:38
    • Summary: ASSET: AUG: Augusta to Syndicate Christchurch Industrial Property
    • Price Sensitive: No
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    11/02/2015 09:38
    REL: 0938 HRS Augusta Capital Limited
    ASSET: AUG: Augusta to Syndicate Christchurch Industrial Property
    Augusta Capital Ltd is pleased to announce that its wholly owned subsidiary
    Augusta Funds Management Ltd has entered into an unconditional agreement to
    purchase an industrial property located at 30-32b Birmingham Drive,
    Christchurch. The property will be leased to PMP (NZ) Limited, a subsidiary
    of ASX Listed PMP Limited, for an initial term of ten years from the
    settlement date which is scheduled for 19 June 2015. PMP Limited guarantees
    the lease.
    Augusta will offer the property to its investors by way of syndication with
    an offer expected to open in early May 2015.
    The purchase price is $9.4 million reflecting a yield of 8.57%. The
    syndicated offer will seek to raise $6 million in investor equity of which
    half is being underwritten by Augusta Capital Ltd and the remaining half by a
    private third party.
    For further information please contact:
    Mark Francis
    Managing Director
    Augusta Capital Limited | Level 2, 4 Viaduct Harbour Ave | Auckland | New
    PO Box 37953 Parnell | P:+649 300 6161 | F:+649 300 6162
    End CA:00260482 For:AUG    Type:ASSET      Time:2015-02-11 09:38:56
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