Listed DNZ Property Fund has sold two assets to reduce debt.It offloaded a Petone property for $13.6 million in an unconditional sale after being approached with an unsolicited offer.The building at 33-43 Jackson St in Petone was tenanted by Blue Star Pri
Listed DNZ Property Fund has sold two assets to reduce debt.
It offloaded a Petone property for $13.6 million in an unconditional sale after being approached with an unsolicited offer.
The building at 33-43 Jackson St in Petone was tenanted by Blue Star Print Group. In September 2009 it was valued at $12.6 million, with 100% tenancy and a weighted average lease term of 8.67 years. The sale is due to settle February 25.
It also sold a vacant property in Albany for $7.1 million, in what it said was another unsolicited offer. The property at 231-233 Bush Rd was valued at $7.4 million in September 2009 and was previously leased to Fonterra. The sale is due to settle on 31 July 2011.
The company had scheduled its Hamilton property on the corner of Liverpool St and Anglesea St for sale in its offer document of July this year but has removed it from the market.
DNZ Property Fund shares were trading at $1.17 each at press time.
