Dollars and sense of syndicated property

Q: I am looking at buying some syndicated commercial property. What would you advise?

Friday, January 2nd 2004, 2:09AM

by The Landlord

A: Over the past decade some operators have attempted to take syndication of commercial properties to the mass retail market. In no particular order, Waltus (now Urbus), St Lawrence Group and Dominion Funds (Money Managers). Their level of success has varied with Waltus the first to amalgamate, Dominion Funds followed suit in early 2003 and St Lawrence is currently undertaking the same task. St Lawrence has adopted a very innovative approach which is not compulsory. Collectively I would rate their score card approximately 4.5 out of 10 as some have been better handled than others. There are some individuals around the country who have been very successful (for them and their investors) in undertaking the same concept (syndicating commercial buildings for investors). These have not been "retail offerings" thus avoiding the requirement for a registered prospectus with the securities commission. Because of this constraint they have only been "offered" to informed investors or to those with personal connections to the syndicators. The underlying success keys are:

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Lender

Flt

1yr

2yr

3yr

AIA - Back My Build

3.34

AIA - Go Home Loans

6.14

4.75

5.25

5.29

ANZ

6.04

5.59

6.09

6.19

ANZ Blueprint to Build

7.39

ANZ Good Energy

1.00

ANZ Special

4.99

5.49

5.59

ASB Bank

6.04

▲4.99

▲5.45

ASB Better Homes Top Up

1.00

Avanti Finance - Near Prime

6.60

Avanti Finance - Specialised

7.75

Basecorp Finance

6.35

Lender

Flt

1yr

2yr

3yr

BNZ - Mortgage One

6.19

BNZ - Rapid Repay

6.19

BNZ - Std

6.09

▲4.99

▲5.45

BNZ - TotalMoney

6.19

CFML 321 Loans

4.20

CFML Home Loans

6.30

CFML Prime Loans

6.45

CFML Standard Loans

7.20

China Construction Bank

6.44

4.85

4.95

China Construction Bank Special

6.44

5.85

5.95

Co-operative Bank - First Home Special

4.74

5.29

5.59

Lender

Flt

1yr

2yr

3yr

Co-operative Bank - Owner Occ

5.34

4.84

5.39

5.69

Co-operative Bank - Standard

5.34

5.89

6.19

Credit Union Auckland

7.70

First Credit Union Special

5.09

5.49

First Credit Union Standard

6.49

5.69

6.09

FMT

7.15

Heartland Bank - Online

5.80

5.89

Heartland Bank - Reverse Mortgage

7.99

Heretaunga Building Society

6.50

5.50

5.65

ICBC

5.39

4.49

4.99

5.25

Kainga Ora

5.79

4.59

4.95

5.19

Lender

Flt

1yr

2yr

3yr

Kainga Ora - First Home Buyer Special

Kiwibank

6.00

▲5.85

▲6.29

Kiwibank - Offset

6.00

Kiwibank Special

▲6.00

▲4.95

▲5.39

▲5.49

Liberty

6.65

6.55

6.22

6.20

Nelson Building Society

▲6.79

▲4.99

▲5.49

Pepper Money Near Prime

6.55

Pepper Money Prime

5.99

Pepper Money Specialist

8.00

SBS Bank

5.84

5.39

5.89

SBS Bank Special

4.69

5.29

Lender

Flt

1yr

2yr

3yr

SBS Construction lending for FHB

3.74

SBS FirstHome Combo

3.29

4.29

SBS FirstHome Combo

SBS Unwind reverse equity

7.99

TSB Bank

▲6.84

▲5.79

▲6.29

▲6.49

TSB Special

▲6.04

▲4.99

▲5.49

▲5.69

Unity First Home Buyer special

4.15

Unity Special

▲6.04

4.80

5.29

Unity Standard

▲6.04

5.60

6.29

Wairarapa Building Society

6.15

▲5.15

▲5.65

Westpac

6.14

5.59

6.05

5.95

Lender

Flt

1yr

2yr

3yr

Westpac Choices Everyday

6.24

Westpac Offset

6.14

Westpac Special

4.99

5.45

5.35

Median

6.17

4.99

5.49

5.59

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Dollars and sense of syndicated property

Q: I am looking at buying some syndicated commercial property. What would you advise?

Friday, January 2nd 2004, 2:09AM

Commenting is closed