Augusta Capital Ltd will re-open the opportunity to invest in the open-ended, unlisted Augusta Industrial Fund Ltd early in 2019.
Augusta bought the first property for the fund in December 2017, added 3 more over the next 6 months and closed its first subscription offer in June 2018 oversubscribed, with $75 million raised.
The NZX-listed promoter & 10% investor in the fund, Augusta Capital, intends to add 5 assets to the portfolio for more tenant & location diversification. The enlarged portfolio is valued at $296 million, has 47 tenants & 99% occupancy.
The fund is managed by Augusta Funds Management Ltd, which has $1.8 billion of assets under management.
A key objective of Augusta Industrial is to deliver sustainable & stable income paid to investors monthly, along with the potential for capital growth.
10 December 2018: Augusta Industrial Fund to take over 4 existing Auckland syndicate properties plus one in Christchurch
30 July 2018: Augusta expands its portfolio platform, a different way of managing & seeing property investment
16 June 2018: Augusta industrial fund closes oversubscribed
12 March 2018: Augusta gets agreement to add 4th building to industrial fund
13 December 2017: Augusta buys Wellington property as seed for new industrial fund
Attribution: Company investment notice.