Sale is part of Infratil’s ‘legacy portfolio’ divestment strategy, with funds to be reallocated into its data centre developments.
MediaWorks’ cash-strapped owners bank $26m for the six-title listing.
The downside: delays, cost blowouts and liquidations will continue to plague the sector.
The council will lease the Albany building for at least 15 years.
It's the fund's fourth hotel investment through a joint venture.
Big plans for a Christchurch cathedral precinct rely on the NZX-listed hotel operator selling.
A new general manager development has been appointed.
First-half profit fell 68% as it works to set up the Tourism Fund product.
Higher rental income and management fees helped offset the impact.
Placement and retail offer to buy three properties for $140.75 million.
