Ann: ASSET: AUG: Conditional Sale of the Finance Centre

• Release Date: 13/08/15 08:30
• Summary: ASSET: AUG: Conditional Sale of the Finance Centre
• Price Sensitive: No
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					AUG
13/08/2015 08:30
ASSET
PRICE SENSITIVE
REL: 0830 HRS Augusta Capital Limited

ASSET: AUG: Conditional Sale of the Finance Centre

Augusta Capital Limited is pleased to announce the conditional sale of the
Finance Centre, Auckland for $87.0 million. This conditional transaction
includes the Finance Centre Carpark, Finance Centre Podium, 19 Victoria
Street West and Retail Title. This deal represents a sale value at some 8%
above carrying book values at an effective capitalisation rate of 6.5% on the
passing net rental.

This transaction is considered a major transaction and will be subject to an
Augusta Capital Shareholder vote if the purchaser satisfies their due
diligence condition.

The property is expected to settle on 24 March 2016 should all conditions be
satisfied.

Augusta's current intention is to utilise the net sale proceeds to re-invest
into its funds management business. The sale will create material balance
sheet capacity to enable the warehousing of assets for future syndication,
greater levels of underwriting with respect to new deals as well as the
ability to make a direct investment in new fund initiatives as has been
previously signalled to the market.

-ENDS-

For further information please contact:

Mark Francis
Managing Director

Augusta Capital Limited | Level 2, 4 Viaduct Harbour Ave | Auckland | New
Zealand
PO Box 37953 Parnell | P:+649 300 6161 | F:+649 300 6162   www.augusta.co.nz
End CA:00268318 For:AUG    Type:ASSET      Time:2015-08-13 08:30:07