Dedicated industrial and logistics investor has 11 Auckland projects in play and a pipeline of investments at about $325m.
Report highlights bricks and mortar as country’s biggest economic contributor, although makes up only 3.3% of KiwiSaver retirement savings portfolio.
The firm’s first foray into industrial property has paid dividends, as developers snap up $130m worth of development land.
NBR understands the bank will roll over its loan in the Du Val build-to-rent fund, with the proviso that Du Val is no longer involved in any capacity.
Developer of waterfront development has locked the project manager and builder out, citing ‘non-performance’ and budget overruns.
Prospective buyers of Du Val Group apartments and townhouses are being left high and dry as banks and non-bank lenders back out of approved mortgage loans in the stricken group’s residential developments.
Sidelined contracting firm says ballooning costs for removal of storm damaged homes smacks of council ‘incompetency’.
The firm is now set to ‘weather the storm’, which won’t be the case for other industry players, founder Chris Meehan says.
Early estimate of property group’s debt will ‘undoubtedly change’, statutory manager adds.
Property syndicate manager alleges a lawsuit filed over investor losses has an ulterior motive.
