DNZ Sale Settlement Completed

DNZ Sale Settlement Completed

DNZ Sale Settlement Completed 20/03/2012

DNZ Property Fund Limited confirms that settlement of the sale of the property at 3-11 Hunter Street, Wellington, was completed on 20 March 2012.

 
Net proceeds from the sale have been utilised to repay bank debt.
 


 
For Further Information Please Contact:
Paul Duffy, Chief Executive, DNZ Property Fund Limited
DDI: 09 913 1154 – Mobile: 021 843 758 – Email: paul.duffy@dnzproperty.com

DNZ Property Fund Overview
DNZ Property Fund Limited owns one of New Zealand’s largest diversified investment property portfolios with commercial office, retail and industrial properties located in the main urban areas throughout New Zealand.

As at 31 December 2011, DNZ Property Fund owned 51 properties with 265 tenants, a weighted average lease term (WALT) of 5.17 years, an occupancy rate of 98.7% over a net lettable area of 376,716m².

DNZ Property Fund Limited is a Portfolio Investment Entity in which investors hold shares and is managed by its own internal management team. DNZ Property Fund Limited also manages the property portfolio of Diversified NZ Property Fund Limited for Australian institutional investors.

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