Goodman Punts Soggy Suburban Office for Roaring Industrial. FVE Increased to NZD 1.35
Goodman Property Trust seems to have made some well-calculated tactical steps, ramping up the industrial development pipeline as industrial rents in Auckland soar and offloading most of its suburban office assets as asset values decline. In March, Goodman offloaded the Millennium and Yellow HQ office assets for NZD 210 million and has now conditionally sold the Central Park Corporate Centre for NZD 209 million, at an estimated 7% discount to the prior book value. We assume the sale will complete...Goodman Property Trust is engaged in investment in real estate in New Zealand.
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