Second property offering in a week
AMP Investments' $500m prime CBD property fund is
Monday, November 17th 1997, 12:00AM
AMP Investments has registered a prospectus for its listed, prime CBD property trust which aims to raise $175 million from the public and institutions.The trust will acquire six prime quality properties including four of New Zealand's top seven buildings.
"This is the best property investment in New Zealand - nothing else comes close, AMPI managing director Roger Greville says.
The AMP NZ Office Trust will have a total capitalisation of about $500 million with AMP and the National Provident Fund being principle unit and note holders.
Trust executive manager Anthony Beverley says the offer of ordinary units and unsecured mandatory convertible notes will be issued on a stapled basis but can trade separately.
The application price is $2 per stapled unit, with a minimum investment of $3000.
The annualised forecast yield on the combined units and the notes is 7.46 per cent.
AMPI's offer will open on November 21 and close on December 11 for retail investors. Lead brokers for the offer are Ord Minnett and FR Partners jointly.
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