PMG launches wholesale offers
Property Managers Group (PMG) has launched unique investment opportunities in two wholesale investment portfolios.
Chief executive Scott McKenzie says the launch of these offers comes just after NZX-owned FundSource has given our two retail funds (PMG Direct Childcare Fund and PMG Capital Fund Limited) AA performance ratings.
“Over the past two years we have worked hard to deliver on investors’ requests for more diversification within existing funds, as well as providing them with access to higher possible rates of return and exposure to growing areas in the commercial property investment sector,” says McKenzie.
● PMG Direct Childcare Fund offers wholesale investors 5,500,000 units at $1 per unit, targeting a strong gross cash distribution return of 6.5 per cent for the full financial year to March 31, 2019, with a minimum investment of $100,000.
The fund is targeting a 10 per cent internal rate of return for this period. It backs quality fit-for-purpose early childhood learning centres in strategic and growing areas across New Zealand. The latest issue is to raise the funds to develop new childcare properties in Hamilton and Pukekohe, bringing the number of centres in the fund to five.
● PMG is also offering up to 12 million shares at $1 per share in PMG Capital, targeting a minimum gross distribution return of 10 per cent a year, with minimum investment parcels available from $250,000.
This is PMG’s real estate/private equity fund. It acquires real estate, transferring it into investment funds after adding value, underwriting, or as a short-term buy/sell transaction.