Announcement Of 35 Million Raised For Build To Rent Fund

Du Val Group is pleased to announce that it has successfully declared unconditional its first Build to Rent Fund (BTR) comprising two existing assets at 2-6 May Road, Auckland and 69 McKenzie Road, Auckland.

The BTR Fund has successfully raised equity from investors and a term debt facility from CCB NZ totaling $35,000,000. This is one of the first successful BTR Funds of its nature in New Zealand.

The two assets comprise of 171 apartments that provide long term, stable rental accommodation to the Auckland market. The Fund is currently targeting a return of 8% and a distribution in the first year of 7%

Managing Director, John Dalzell, says the opportunity is to now grow the fund to an initial target of $300m-$500m over the next 7-10 years.

"We continue to look for new opportunities and eligible investors as the fund acquires more purpose-built assets that present a strong return to investors and stable, affordable rental accommodation to tenants.” Dalzell says.

“Build to Rent is an ethical investment in an area of the market that has been neglected for too long, in the midst of an accommodation crisis, where we should be all doing more rather than less” states Dalzell. “Build to Rent plays a significant role in European and American accommodation markets and the opportunity to grow and meet the ever-increasing demand here in New Zealand is significant”.

Recent Press:

https://www.stuff.co.nz/business/property/124908485/build-to-rent--a-modern-innovative-way-to-invest

For more info about Build To Rent:

www.duvalpartners.com

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