Oyster Property Group Ltd has closed its Cardinal Logistics warehouse syndication early, oversubscribed, and said today its first syndicate for 2015, at Albany, was attracting strong interest.
The Cardinal building is at 71 Westney Rd, Mangere. It was the third proportionate ownership scheme Oyster offered in 2014, projecting cash returns of 8.1%/year pretax, paid monthly.
Oyster’s next syndication is the $27 million ANZ Business Centre at 9 Corinthian Drive, Albany, where 312 interests of $50,000 each are offered, with pretax cash returns of 8.25%, paid monthly.
Attribution: Company release.