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Property
2 mins to read
7

Maat syndicates under pressure as downturn bites

Documents from three syndicates show bank stances toughening, tenancies weakening.

The Cashel Property Investment syndicate, owner of an office building on Christchurch's Cashel St, must raise capital.

Tim Hunter Wed, 19 Jun 2024

The economic downturn is cranking up pressure on property syndicates run by Whanganui-based Maat Group through a combination of bank debt and building vacancies.

Documents obtained by NBR for three of Maat’s 11 syndicates reveal looming crises involving combined debts of more than $60

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Tim Hunter Wed, 19 Jun 2024
Contact the Writer: thunter@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Tags
Maat Group Neil Tuffin property syndicates Tauranga City Council BNZ ASB China Construction Bank

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