Pacific Core 1 – NEW ZEALAND

Pacific Core 1 NEW ZEALAND has invested in two modern Grade A office buildings in the Central Business District of New Zealand’s metropolis Auckland. 

The tenants of the new construction properties are General Electric Finance and Insurance, a company of the global conglomerate General Electric as well as the Bank of New Zealand with its subsidiary BNZ Branch Properties Limited which undertakes real estate management in an intra-bank manner. Both tenants have opted for the central location along the harbour for the next 12 years. The attractiveness of the BNZ and the GE buildings lies in the high amount of energy efficiency and the ecological standards which have been assigned New Zealand’s Green Star rating. The BNZ building is even New Zealand’s first real estate property to be awarded the 5-star excellence rating. The GE building is impressive owing to its four-star rating.

Investment company:    HIH Global Immobilien GmbH & Co

                                          Erste Neuseeland KG
Investment market:        New Zealand, Auckland
Year of placement:         2009 (12 years fund life)
Equity capital:                  98.5 mill. NZD
Investment volume:       158.0 mill. NZD
Payout:                              6.0 % p. a. rising to 6.5 % p. a. (forecast)