Another syndicate under Oyster’s belt
Property syndicator Oyster Group says its second investment offer for the year has closed fully subscribed.
The latest syndication offers pre-tax returns of 8.5%, higher than fixed-term deposits.
The latest syndication involves the sale of VIP Packaging’s manufacturing, storage and distribution facility at 100 Harris Rd, East Tamaki.
The building was acquired for $21,037,500. Oyster offered investors 114 shares at $100,000 each. The balance of the approximate one-quarter funding came from bank debt.