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.

 

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