Monday, 26 February 2018

Announcement

TRANSACT: AUG: Industrial Fund - approval of sale of Brick St

02 Feb 2018 17:29NZX
NZX RELEASE
2 February 2018

Industrial Fund - approval of sale of Brick St by existing syndicate

Further to the announcement on 22 January 2018 regarding the approach by way
of a conditional offer to the investors in the Brick Street, Henderson
property managed by an existing Augusta managed syndicate, Augusta is pleased
to confirm that the investors in that syndicate have now approved the sale.
The sale remains conditional on the existing tenant waiving its first right
of refusal.

The three properties in its initial portfolio for the Industrial Fund - 862
Great South Road, Penrose, The Hub, Wellington and 12 Brick Street have a
combined purchase price of $86.31 million with 14 tenants supporting a WALT
of 7.2 years. The initial equity to be raised by the new fund is expected to
be between $58 and $60 million. Augusta will underwrite between $33 and $35
million.

Work continues to finalise the product disclosure statement for the offer
ahead of registration in mid-February. A further announcement will be made
when the offer is registered.

For further information, contact:

Mark Francis     Guy French-Wright
Managing Director    Chief Operating Officer
End CA:00313715 For:AUG    Type:TRANSACT   Time:2018-02-02 17:29:53
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