Farhad Moinfar’s Citadel Capital is hoping to develop the Christchurch heritage building, with $4.9m being raised via a wholesale credit offer.
Auckland developer expands into Queenstown market with purchase of 13 hectares outside Lake Hayes.
The restoration project, which dates back 11 years, will add a new ‘black box’ underground venue to the mix.
The personnel losses come as the global realtor moves to sublease about half its Auckland head office space.
Build-to-rent investment has fallen 90% over the past four years, with cost of debt shuttering institutional investment plans.
Property syndicator GEK Property looks to cash out at a $12 million premium to its purchase price eight years ago.
Tak Development is owned by the giant Japanese Takenaka Corporation.
Creditors and investors are owed an estimated $9m, with little expected to be recovered after a series of unfortunate investments.
The Kaipātiki local board has decided to retain a strong sports and community element at the AF Thomas Park, although finer details still have to be ironed out.
There are signals the office market is set for a rebound, getting back to levels last seen before the Global Financial Crisis.