Tak Development is owned by the giant Japanese Takenaka Corporation.
The company's first transtasman move since appointing its former chief operating officer to head Australian operations.
Augusta wants to add five properties to the syndicate through a $105m offer.
The equity raise will reduce gearing ahead of significant development spend.
Property for Industry has improved on low revaluation gains last year to achieve a solid 2018.
National Party MP Andrew Bayly says the delay highlights issues with New Zealand's product assurance system.
SkyCity has also claimed $30m of liquidated damages from Fletcher Construction.
In the final of a three-part series, Kiwibuild officials say they are keen on innovation to get housing moving.
In the second of three parts of a series on housing, two top building companies tells Kiwis to be patient - they're building as fast as they can.
In the first of three parts of a series on housing, three home building companies offer their ideas to get KiwiBuild back on the move.