Commercial property syndications

This is a list of the proportionate ownership schemes, and commercial property syndications that we are aware of. We are seeking readers help to compile this list to make it more comprehensive, and add or correct the details on this page.

Much of this data has been sourced from Companies Office records, some from other public sources. But not all transactions have needed to be reported publically.

Anecdotal information suggests that more than $1 billion of these deals have been done in the last five plus years, and the actual total may be closer to $2 billion, if the claims of the various promoters can be verified. On that basis, this page may account for less than half the actual level of deals. Markets are always better served with comprehensive and accurate information about recent transactions.

If you can assist with upgrading the information on this page, please email us at syndications@interest.co.nz

Promoter	Property name	Date offer closed	Initial purchase price $(000)	Initial bank borrowing $(000)	Initial investor funds $(000)	# of units or shldrs	Initial forecast return %	Last property valuation $(000)	Date of valuation	Current bank loan balance $(000)

Anaro Investments
	Lindis Investments	Jun-04	6,386	3,200	3,404	8	9.75%	7,570	Mar-06	3,182
	Mt Dasher Investments	Sep-04	6,138	2,493	3,510	11	9.35%	6,500	Mar-09	2,493
	Tarras Investments	Sep-04	6,574	2,806	3,900	10	9.35%	6,870	Mar-09	2,758
	Tairei Peak	Feb-05	14,212	7,238	7,238	11	9.35%	20,097	Mar-07	7,238
	Mt Ida Investments	Jun-05	6,886	3,231	3,800	11	9.35%	5,500	Mar-09	3,056
	Mt Iron Investments	Aug-05	6,315	2,935	3,500	7	9.35%	8,200	Mar-09	2,935
	Mt Piza Investments	Nov-05	8,078	3,775	4,500	8	9.35%	9,750	Mar-09	4,206
	Quay Investments, Wgtn	Feb-06	5,848	2,952	3,000	7	9.35%	6,700	Mar-09	5,101
	Eichardts Investments	Nov-06	8,187	3,816	4,401	9	9.54%	8,900	Mar-09	3,816
	Wickliffe Investments	Apr-07	8,109	3,769	4,500		9.54%
	Berkley Investments	Dec-08	19,786	8,997	10,906	18	9.00%	19,900	Mar-09	8,997
	Brinkburn Inv, Porirua	Mar-09	12,000	5,500	6,605	11	9.00%	12,000	Mar-09	5,500
	Domet Investments	Sep-09	12,239	5,469	7,000		9.00%
	Obie Investments	Jun-10	12,000	5,469	7,000
	Eight 8 Seven 6, Wgtn	unknown
	Kyburn Investments Wgtn	Apr-11	17,708	9,700	9,500	19		17,300	Mar-12
			=======	=======	=======	=====		=======		=======
Interim totals for Anaro			155,465	71,345	82,763	130		129,287		49,280

	"Anaro specialises in commercial property investment and manages a portfolio with an approximate value of $400 million throughout New Zealand." from the promoter's website.

Promoter	Property name	Date offer closed	Initial purchase price $(000)	Initial bank borrowing $(000)	Initial investor funds $(000)	# of units or shldrs	Initial forecast return %	Last property valuation $(000)	Date of valuation	Current bank loan balance $(000)

Augusta Funds Management
	Hawkes Bay DHB Bldg	Oct-05			4,600	84
	Contact Energy Building	Dec-05			5,500	110
	APN Building	Nov-08	15,600		8,450	169	10.00%	15,850	Mar-10
	Bendon HQ	Feb-09	19,100		10,100	202	10.00%	19,410	Mar-10
	510 Mt Wellington	May-09	25,500	10,200	15,500	310	10.00%		Mar-10
	Downer EDI	Jun-10	3,250		2,250	45	9.00%	3,500	Mar-10
	Countdown Fraser Cove	Sep-10	15,580	7,000	9,150	183	9.00%	15,580	Sep-10
	Countdown Westgate	Dec-10	16,340	7,407	9,600	192	8.50%	16,675	Oct-10	7,407
	ENZA, Hastings	Apr-11	16,961	6,815	11,000	220	10.50%	17,000	Feb-11	6,815
	9 City Rd, Auckland	2007			5,800	100
	Countdown, Huntly	2011			5,400	109
	King St, Hastings	2012			11,000	11
	Dominion Rd, ASB Centre	Jul-12	26,731	6,750	17,000	340	9.00%	28,500	Jun-12
	Carters, Tauranga	Mar-12	6,600	2,350	4,350	87	9.00%
	Hugo Johnson Dr, Penrose	Apr-13	14,209	5,900	9,600	192	9.00%	14,650	Feb-13

			=======	=======	=======	=====		=======		=======
Interim totals for Augusta			159,871	39,672	88,990	1,779		130,544		14,222

	"The other division is Funds Management, where it is the market leader in commercial property syndication. Through our subsidiary Augusta Funds Management, we have established over 16 commercial property syndicates valued at over $200m." from a recent offer document.

Promoter	Property name	Date offer closed	Initial purchase price $(000)	Initial bank borrowing $(000)	Initial investor funds $(000)	# of units or shldrs	Initial forecast return %	Last property valuation $(000)	Date of valuation	Current bank loan balance $(000)

Commercial Investment Properties
	Church St 300, Onehunga	Oct-03	3,950	1,700	2,410	15	11.21%	5,350	Mar-09
	Leven JV, Invercargill	Mar-04
	Neilsen & Galway	Mar-04		1,190	1,770	11	10.15%
	Fairburn House, Otahuhu	Mar-04	3,150	1,146	2,150	15	10.28%	7,450	Mar-09
	Studio Prop, Henderson	May-04
	North Properties, Keri Keri	May-04	4,000		2,280	19	9.25%
	Watts Road Ltd, Chch	Aug-04	4,500	2,370	2,355		9.00%
	Montgomerie Ave, Akl	Mar-10	4,200	2,365	2,050	41		4,200	Mar-10
	Airways JV, 20 SWP Drive, Chch	Mar-10	16,950	8,600	8,900	178	7.91%	16,950	Mar-10
	Coca Cola Distn Center, Palm Nth	Mar-10	6,500	2,600	3,900	78	9.00%	6,600	Mar-10
	Bunnings, Tauroa St, Whangarei	Nov-10	13,596	6,100	8,000	160	9.00%	13,750	Jun-10
	10 Rothwell Ave, Albany, Akl	Nov-11			8,650	173	10.00%
	7 Rennie, Mangere, Akl	May-12


			=======	=======	=======	=====		=======		=======
Interim totals for CIP			56,846	26,071	42,465	690		54,300		-

	"Commercial Investment Properties Limited currently has 26 properties under management and has syndicated approximately $160 million of commercial real estate." from the promoter's website.

Promoter	Property name	Date offer closed	Initial purchase price $(000)	Initial bank borrowing $(000)	Initial investor funds $(000)	# of units or shldrs	Initial forecast return %	Last property valuation $(000)	Date of valuation	Current bank loan balance $(000)

KCL Property
	Western Star Trucks, Wacol, QLD	Mar-09			8,000	40
	Arrenway Drive, Albany, Akl	May-09	9,400	4,500	5,000	100	9.50%
	Mulford Plastics, Penrose, Akl	Jun-09
	Courtenay Pl, New Plymouth	Jun-09
	Link Drive, Wairau Valley, Akl	Jan-10			4,250	85	8.25%
	Lambie Drive, Manukau Cty, Akl	Jun-10	15,900	5,900	10,000	40	8.25%
	Vickers Rd, New Plymouth	Dec-10	19,000	8,598	11,250	225	9.25%
	Ronwood Ave, Manukau, Akl	??
	Bush Rd, Albany, Akl	??
	Broadway, Newmarket, Akl	??
	Fraser Rd, Mt Wellington, Akl	Apr-11	9,250	3,530	6.250	25	6.00%	10,440	Feb-11	3,530
	Hutt Rd, Kaiwharawhara, Wtgn	Jul-11	8,600	3,411	5,500	110	9.25%	8,600	Mar-11	3,411
	21A Porana Rd, Nth Shore, Akl	Sep-11					8.25%
	265 Albany Hwy, Akl	Dec-12			6,900	138	12.20%
	Richmond Center, New Plymouth	Mar-12			2,100	42	9.25%
	Trafalgar Sq. Wanganui	??			12,000	24	12.25%
	Countdown, New Plymouth	May-12	15,800	8,300	7,500	150	8.75%
	Swanson Rd, Henderson, Akl	Sep-12			15,400	308	9.50%
	Ellerslie Hwy, Auckland	Jan-13			3,000	12	8.50%

			=======	=======	=======	=====		=======		=======
Interim totals for KCL			77,950	34,238	97,150	1,119		19,040		6,941

	"The KCL Property group of companies has been active in property syndication since the mid 1990s with the Manager currently managing 60 active property syndicates with total property assets under management in excess of $450 million spread across 130 commercial properties." from the Dec-10 Offer document. A May 2011 offer says "$450 million of property under management and 45 syndicates".

Promoter	Property name	Date offer closed	Initial purchase price $(000)	Initial bank borrowing $(000)	Initial investor funds $(000)	# of units or shldrs	Initial forecast return %	Last property valuation $(000)	Date of valuation	Current bank loan balance $(000)

Oyster Group
	Angelsea, Hood, Knox, Hamilton	Oct-91	1,400			12
	Grosvenor Motor Inn, Hamilton	Dec-96				16
	456 Angelsea, Hamilton	Jan-98				1
	468 Angelsea, Hamilton	Jan-98				1
	307 Sandwich Rd, Hamilton	Dec-98	1,475			5
	WINZ, Main St, Palm Nth	Oct-99	1,790			7
	Flagstaff, Hamilton	Jul-01	3,170			7
	Westpac, Hamilton	Aug-01	9,200			17
	Bayleys Bldg, Hamilton	Jan-02				1
	Bryant Rd, TeRapa, Hamilton	Mar-02	2,970			6
	Carlton Gore Rd, Nwmrkt, Akl	Feb-03	16,094			19
	Noel Leeming, Botany Downs, Akl	Apr-03	7,150			12
	Angelsea Tower, Hamilton	Jul-03	6,530			17
	Avanti Finance bldg A, Grn Lane, Akl	Sep-03	13,200			42
	Avanti Finance bldg B, Grn Lane, Akl	Sep-03				14
	Lincoln Rd, Henderson, Akl	Nov-03	11,830			36
	Wakefield St, Wgtn	May-04	21,000			76
	Gt Sth Rd, Grn Lane, Akl	Sep-04	13,180			47
	60 Kyber Pass, Akl	Jun-05	10,200		4,100	41
	Countdown x2, Tauranga, Napier	Jun-09			10,000	100
	High Holland, Lower Hutt	May-10	17,500	5,500	11,800	118	8.90%
	2 Kitchener St, Akl	unknown					7.78%
	246 Queen St, Akl	2006	26,000		13,500	27	9.00%
	141 The Terrace, Wgtn	2006	21,300			133	8.50%
	135 Victoria St, Wgtn	Aug-08	9,200			62	10.00%
	102 Rosedale Rd, Albany	Dec-10				32
	12 Foreman Rd, Hamilton					12
	47 Bryant, Hamilton					5
	Countdown, Papakura	Aug-11	8,750	4,260	4,800	48	9.36%	8,800	Jun-11
	Mitre10Mega, Pukekohe	May-12	10,315	5,050	5,600	56	9.00%
	Mitre10Mega, Henderson	Oct-12			14,000	140
	29 Goodfellow, Hamilton	Jun-13	3,400	0	3,400	17	8.00%
			=======	=======	=======	=====		=======		=======
Interim totals for Oyster			215,654	14,7200	67,200	1,127		8,800		-

	"We currently have over 600 investor clients many of whom invest in multiple properties. The Oyster portfolio is currently valued at over NZD$250M, with gross rentals exceeding NZD$25M per annum." from the promoter's website.


Promoter	Property name	Date offer closed	Initial purchase price $(000)	Initial bank borrowing $(000)	Initial investor funds $(000)	# of units or shldrs	Initial forecast return %	Last property valuation $(000)	Date of valuation	Current bank loan balance $(000)

SPI Capital
	Sultan St, Ellerslie, Auckland	Sep-04	4,300		1,777	na		9,200	unknown
	Bell 1, WIT, New Plymouth	Dec-05	4,850		2,475	99
	Bell 2, WIT, New Plymouth	Dec-05	4,850		2,450	49		4,870	unknown
	19 Sheffield Cres, Chc	Jan-07	6,200		3,200	64	8.50%	6,200	unknown
	HP Home Centre, Pakuranga	Oct-05	8,930		4,550	91	9.00%	9,730	unknown
	Gloucester St, Chc	May-05	10,200		5,375	215		10,680	unknown
	656 Gt Sth Rd, Penrose, Akl	Sep-03	11,200		5,900	59		13,900	unknown
	80 Hunua Rd, Pakuranga Akl	Aug-06	12,870		7,500	150		11,800	unknown
	66 The Square, Palm Nth	Aug-09	12,750		8,950	179	9.50%
	18 Lambie Drive, Manukau	Jan-09				7
	Times House, East Tamaki, Akl	Oct-09			3,600	72	9.25%

			=======	=======	=======	=====		=======		=======
Interim totals for SPI			76,150		45,777	985		63,380		-

	"SPI Capital aims to build a diversified portfolio of assets in the office, retail and industrial sectors throughout New Zealand. It currently has over $135 million of property assets comprising of 15 properties." from the company's website.


Promoter	Property name	Date offer closed	Initial purchase price $(000)	Initial bank borrowing $(000)	Initial investor funds $(000)	# of units or shldrs	Initial forecast return %	Last property valuation $(000)	Date of valuation	Current bank loan balance $(000)

Goddard Holdings
	Goddard Center, Tauranga	Oct-09	13,000	6,500	7,725	103	9.50%

Maat Consulting
	Walton Plaza, Whangarei	Dec-10	12,550	5,648	7,400	296	10.00%	12,600	Oct-10
	Ha Crescent, Wiri	Feb-10					9.50%
	Bush Rd, Albany	Aug-10					8.90%
	Bunnings, Whakatane (open)	Dec-11	7,415	3,337	4,375	175	9.35%	7,500	Nov-11
			======	======	======	====		=====
			19,965	8,985	11,775	471		20,100
Ocean Partners

Glaister Ennor

Radius Properties
	Peppertree, Palm Nth	Dec-04	3,650
	Thornleigh, New Plmth	Aug-04	2,625
	Seaview, Whangarei	Jul-04	1,600
	Maeroa Lodge, Hamilton	May-04	6,650
	Baycare, Paihia	Sep-06	2,610
	Arran Court, Henderson	Jan-07	10,500
	Karina, Palmerston Nth	Oct-07	2,645	0	2,850	114	14.60%	2,540	Mar-10	99

			=======	=======	=======	====		=======		=======
Interim totals for Radius			30,280	-	2,850	114		2,540		99



St Laurence

IPT Bayleys
	Portage Rd, New Lynn	Mar-02			2,400	24	11.77%	5,800
	Gabador Pl, Mt Wtgn, Akl	Nov-02			5,600	56	12.00%	12,300
	Brigade Rd, Airport, Akl	Apr-03			2,500	50	9.00%	4,870
	Scotia Place, Akl	Sep-03			5,100	102	10.65%	7,700
	Pages Rd, Chc	May-04			2,500	50	9.00%	4,400
	Bradshaw St, Dunedin	Jun-04			2,100	42	9.00%	3.980
	Beach Rd, Otahuhu, Akl	Nov-04			8,600	172	9.00%	14,650
	Paisley Pl, Mt Wtgn, Akl	open	16,400	7,380	10,200	408	10.00%	17,550	Jan-11
			=======	=======	=======	====		=======		=======
Interim totals for IPT Bayleys			16,400	7,380	39,000	904		71,250

============================			=======	=======	=======	=====		=======		=======
PAGE TOTALS ...			822,481	215,750	525,735	8,177		498,922		73,320

If you can assist with upgrading the information on this page, please email us at syndications@interest.co.nz

Commercial property syndications

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