Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


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:

For more info about Build To Rent:

© Scoop Media

Business Headlines | Sci-Tech Headlines


Statistics: Annual Inflation Hits A Three-decade High At 5.9 Percent
The consumers price index increased 5.9 percent from the December 2020 quarter to the December 2021 quarter, the biggest movement since a 7.6 percent annual increase in the year to the June 1990 quarter, Stats NZ said today... More>>

Digitl: Bumper year ahead for NZ IT sector

Gartner says New Zealand spending on technology products and services will grow 7.4 percent this year. The company’s latest forecast says the market will total NZ$15.3 billion in 2022... More>>

Fonterra: Lifts Forecast Farmgate Milk Price Range

Fonterra Co-operative Group today lifted its 2021/22 forecast Farmgate Milk Price range to NZD $8.90 - $9.50 per kgMS, up from NZD $8.40 - $9.00 per kgMS. This increases the midpoint of the range, which farmers are paid off... More>>

Skoltech: Study Probes Earth’s Turbulent Past To Explain Where Oceans Came From

The origin of water on our planet is a hot question: Water has immense implications for plate tectonics, climate, the origin of life on Earth, and potential habitability of other Earth-like planets. In a recent study in Physical Review Letters, a Skoltech professor and his Chinese colleagues suggest... More>>

Statistics: Household Net Worth Grows In The September 2021 Quarter But At A Slower Pace Compared To March 2021

Household net worth grew by $60.7 billion in the September 2021 quarter compared with the June 2021 quarter, Stats NZ said today. This represents an increase of 2.5 percent, a similar result to the June 2021 quarter, which was up $60.6 billion or 2.6 percent... More>>

TradeMe: Job Market Ends 2021 On A High With Record Number Of Vacancies
The New Zealand job market finished 2021 on a high note, with the ball still firmly in the job hunters’ court, according to the analysis of 69,600 vacancies listed on Trade Me Jobs for the quarter ending 31 December (Q4)... More>>