The Goodman Property Trust’s sale of its interest in the owner of the VXV property portfolio along Fanshawe St in Auckland, Wynyard Precinct Holdings Ltd, went unconditional last week.
Goodman said the buyer, a group of funds managed by US asset manager Blackstone Group LP, had received approval from the Overseas Investment Office and the sale would settle this Friday, 14 December.
The 51:49 joint venture between Goodman & Singapore sovereign wealth fund GIC agreed the $635 million sale in May.
After selling $1.2 billion of property over the last 5 years, the Goodman trust’s investment strategy is now exclusively focused on the Auckland industrial market.
The VXV portfolio includes 7 lowrise office buildings, with a total floor area of 88,000m², in the commercial precinct adjoining the Wynyard Quarter.
18 May 2018: Goodman & Singapore fund sell VXV portfolio to Blackstone
Attribution: Goodman release.