The $80 billion NZ Super Fund and co-investors Russell Group and Lockwood assembled the country's third largest hotel portfolio over the past five years.
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.
Profit fell 11% in what the property developer called a creditable result in a difficult year.
The Carlaw Park divestment leaves PFI with just one non-industrial asset.
Stride investment general manager Steve Penney is joining Kiwi Property to push a funds management strategy.