Stride Property Group (SPG) is an NZX listed stapled group comprising Stride Property Limited (Stride) and Stride Investment Management Limited (SIML).
Stride is a listed Portfolio Investment Entity (PIE) that invests in New Zealand office, retail and industrial property. SIML is a specialist real estate investment manager.
SIML currently manages the property portfolios of Stride, Diversified NZ Property Trust (and its predecessor fund Diversified NZ Property Fund Limited) and Investore Property Limited (Investore). Investore is an NZX listed property company specialising in large format retail assets.
Stride Property Group was formed in July 2016 following the strategic demerger of SIML and Investore from Stride.
The shares of Stride and SIML are stapled and can only be transferred as a parcel of one Stride share and one SIML share.
The stapled securities are quoted on the Main Board of NZX Limited under the ticker code ‘SPG’.