Tak Development is owned by the giant Japanese Takenaka Corporation.
The Australia-based trust dual listed on the NZX in December.
Stronger retail performance means improved income and less abatements.
The Malaysian government-backed developer purchased the Auckland CBD land from the council for $40m.
It has invested an undisclosed amount in the Whitby Lakes Retirement Village.
Property company’s CFO ‘frustrated’ by Internal Affairs’ punishing approach.
Operating income was up 8.5% despite pandemic related costs.
The money will be used to pay down debt ahead of major Auckland office developments.
The company posted a full-year profit of $113.5 million.
The Bay of Plenty-based property syndicator sold the stake for $17.5m.