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Goodman and Mercer take $350m stake in Highbrook fund

Hiving off a minority stake in Highbrook Business Park seen as a more attractive option than an equity issue.

Highbrook Business Park.

Key points
  • Revenue: Net property income up 13.5% to $230.5 million
  • Cash distributions: Up at 6.5c from 6.2c the prior year 
  • Main takeaway: Sale of a minority 27.7% stake in industrial Highbrook Business Park estate, to pay down debt and pursue property expansion.

Fund manager Mercer and property investor Goodman Group will take $150 million and $200m stakes respectively for a minority 27.7% of a new Highbrook Fund from Goodman Property Trust (GMT).

The $350m price tag for the fund gives the 78-building East Tāmaki Highbrook Business Park an implied value of

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Brent Melville Thu, 29 May 2025
Contact the Writer: bmelville@nbr.co.nz
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Key points
  • Revenue: Net property income up 13.5% to $230.5 million
  • Cash distributions: Up at 6.5c from 6.2c the prior year 
  • Main takeaway: Sale of a minority 27.7% stake in industrial Highbrook Business Park estate, to pay down debt and pursue property expansion.
Company profile
Powered by: nzx logo
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
Goodman and Mercer take $350m stake in Highbrook fund
Investment,
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