Deutsche Office spends $101m on its first NZ property
Amid speculation of the possible $3bn merger of the three Deutsche property trusts, and the possible role of Westfield in such a merger, Deutsche Office Trust (DOT) today announced that it has made its first purchase in Auckland. The purchase price is NZ$110.4 million (A$101m) and should deliver an annual yield of 8%.
Thursday, August 5th 2004, 9:37AM
by The Landlord
GM Mr Michael Brown said that the development was a rare opportunity to acquire new premium, high-grade building in a strong market, leased to quality tenants and that provided a contemporary office work environment.
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