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DNZ becomes Stride Property from today

DNZ becomes Stride Property from today

DNZ Property Fund Limited has today changed its name to ‘Stride Property Limited’ as announced on 10 September 2015. The company’s NZX ticker code will change from DNZ to STR from today.

The Auckland based property investor and fund manager believes its new brand and corporate identity reflect the steps it is taking to deliver sector leading investment returns.

Stride owns and manages more than $950 million of office, retail and industrial property assets.

“The new name brings to life our strategy of investing in properties with enduring demand which maximise returns on a sustained basis,” Stride Chief Executive Peter Alexander commented. “Our aim is to invest in places that reward and give real value to all who are associated with them – tenants, customers, visitors and investors.”

Chairman Tim Storey said the new corporate image reflects Stride’s focus on investor returns. “It shows that we are progressive and forward thinking, and it better represents our purposeful and innovative approach, our culture and performance and the places in which we invest.”

The opening of the NorthWest Shopping Centre on 1 October and the commencement of the ‘NorthWest Two’ development are examples of Stride’s approach Peter Alexander said.

The $155 million NorthWest Shopping Centre will have almost 100 retail stores and is being heralded as the next generation of shopping centres in both design and retail offering. The Centre will generate up to 700 new jobs – driving employment to complement the region ‘s population growth.

NorthWest Two, on land opposite the shopping centre, is complementary to the offering and is a key element of the overall Westgate Town Centre development.

“The rebranding comes in the same week that Stride announced the acquisition of a portfolio of 19 supermarkets which present strategic opportunities for the company,” Tim Storey said. Stride purchased the portfolio for $287m and raised $115m of new equity to fund the acquisition.

ENDS

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