Property Managers Group’s $12 million wholesale capital fund has been fully subscribed a fortnight before closing date, and the group expects its $5.5 million wholesale direct childcare fund to be fully subscribed by closing as well.
Tauranga-based PMG opened both funds in early September, with 31 October closing dates.
PMG investment head & director Daniel Lem said yesterday a limited number of $100,000 parcels in the childcare fund remained available.
PMG launched its childcare fund after investors said they wanted to provide access to quality early childcare education for young New Zealanders from all backgrounds. The fund’s aim is to build a portfolio of new early childcare education properties.
The present capital-raising is for 2 new centres in Hamilton & Pukekohe.
13 September 2018: Property Managers Group offers 2 wholesale opportunities, gets AA ratings for 2 retail funds
Attribution: Company release.