The Royal International Hotel has been acquired by a joint venture of two kiwi firms. The Royal International Hotel is located near Tonga’s Fua’amotu International Airport. The acquisition was announced Wednesday by the Managing Director of the Scenic Hotel Group, Brendan Taylor, reported Matangi Tonga Magazine.
The new ownership is a joint venture between two New [...]

According to Stuff New Zealand, a $32.5 million fee to terminate the management contract for Argosy Property Trust could be cut by $20 million under a merger plan suggested by another listed property fund.
In an announcement to the stock exchange Monday, DNZ Property Fund chairman Tim Storey said merging with Argosy would create an internally-managed [...]

Kiwi Income Property Trust announced Monday that an unconditional contract has been entered into to sell its office building at 50 The Terrace, in Wellington for $6.37 million. The sale price is in line with the asset’s current book value of $6.3 million, based on the latest valuation as at 31 March 2011.
The sale is [...]

Stuff New Zealand Sunday reported that beleaguered property developer Terry Serepisos has sold his flagship Century City apartment hotel and an adjacent car park building to Wellington investor Mark Dunajtschik.
According to Stuff, Serepisos is one of the Auckland’s most colorful business personalities. He owns the Wellington Phoenix Football Club and a string of commercial and [...]

Stuff New Zealand Thursday reported that the $20 million Soho Square site in Auckland has been sold to Australian-owned supermarket behemoth Progressive Enterprises.
According to Stuff, Progressive confirmed Wednesday evening it had entered into an agreement with Soho Square receiver Grant Thornton to buy the 1.33 hectare site.
Originally the site was destined to become an over [...]

Algeco Scotsman, a leading global business services company focused on modular space and secure storage solutions, announced it has entered into arrangements to acquire Ausco Modular Holdings Ltd (Ausco), a leading provider of modular buildings in Australia and New Zealand.
The arrangements follow an agreement by Algeco Scotsman’s owners to acquire Ausco from Waco International Limited [...]

Charter Hall Retail REIT announced it has completed the sale of the majority of its investment in the non-core New Zealand portfolio, with the sale of 15 properties for a total consideration of NZ$85.3 million, in line with its carrying book value.
The REIT’s 50% interest in the 15 freestanding supermarkets was acquired by its New [...]

Jumpstart Capital Partners, LLC, an investment company based in Los Angeles, California, announced the launch of Jumpstart Equity Partners, LLC, a new investment and asset management platform established to capitalize on liquidity constraints in international real estate markets.
Jumpstart Equity Partners said it is initially targeting distressed and undervalued real estate-related investments in select markets within [...]

Hirepool New Zealand, announced it had acquired the assets of Cube Innovations, based in Hamilton, New Zealand. Hirepool acquired Cube Innovations’ assets of about 70 portable buildings, ranging in size from 3.6m by 3m, up to 12m by 3m. Hirepool expects the investment to give it greater penetration into the New Zealand market.
Mark Powell, Hirepool’s [...]

Goodman (NZ) Ltd, the manager of Goodman Property Trust, agreed to acquire a Christchurch property occupied by Carter Holt Harvey Packaging for $12.5 million. The 20,380sqm office and warehouse facility provides an estimated yield on cost of 10.5% and is expected to settle before 31 December 2010, the company said in a statement.
The nine year [...]