Private Bin isn't one to boast, but would just like to point out that we were right.DNZ Property Fund has admitted it sold two Lower Hutt buildings to Oyster Group, a month after NBR picked it.When we quizzed them about it on March 2, the fund wouldn't co
Private Bin isn’t one to boast, but would just like to point out that we were right.
DNZ Property Fund has admitted it sold two Lower Hutt buildings to Oyster Group, a month after NBR picked it.
When we quizzed them about it on March 2, the fund wouldn’t comment.
“Simon [Curtis, DNZ’s marketing general manager] will call you when there is anything confirmed either way on your earlier query,” DNZ’s spin doctor Alan McDonald said.
We weren’t surprised that Mr Curtis didn’t call.
Instead a standard issue press release was issued this week, confirming that the properties, a Bunnings and offices for a Mininstry of Social Development and ACC, were bought by Oyster Group.
Together with the Wairau Park property, DNZ was happy to tell us it sold four weeks ago, the trio of asset sales will bring the troubled fund a much needed $44.7 million.
