Centuria NZ Value-Add Fund No. 2 LP
Offer open date: 19 November 2023
Manager: Centuria NZ (formerly known as Augusta Funds Management Limited)
Centuria NZ Value-Add Fund No. 2 LP (the Fund) offered investors a 13% target annualised pre-tax return* with a 2 year fund term** providing investors with a define investment horizon.
The Fund acquired 43 College Hill, a prime location in Central Auckland, and is executing a value-add refurbishment strategy to convert the well-suited existing building to a sought after premium storage facility and will then sell the property.
Storage King, one of Australasia’s largest self-storage providers, will be the operator of the facility. Its parent company, Abacus Storage King, made a NZ$7 million cornerstone investment in the Fund, which enhanced the alignment between operator and investors.
The offer of units in Centuria NZ Value-Add Fund No. 2 LP (the Fund) was only made to persons who are 'wholesale investors' within the meaning of clause 3 of schedule 1 of the Financial Markets Conduct Act 2013.
*Distributions will be received by investors only once the property is successfully sold, following which the net assets realised will be distributed to investors. The Fund's objective is to return investor’s capital invested plus the target annualised pre-tax return on that invested capital. Returns are not guaranteed. Actual returns may vary. The target annualised pre-tax return is presented on an after fees basis. Financial information to assist investors in understanding how the target annualised pre-tax return is calculated (including the key assumptions upon which it is based), and the risks associated with the investment are set out in the Investment Memorandum.
**The term of the Fund may be extended if approved by an Ordinary Resolution.
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