NZSE:PCTOffice REITs
Precinct Properties (NZSE:PCT) Is Down 5.3% After $310m Equity Raise for Auckland Student Housing Ambitions – Has The Bull Case Changed?
Precinct Properties announced a fully underwritten equity raise of NZ$310 million to fund a 638-bed student accommodation project in central Auckland and partially repay bank debt.
This move reflects Precinct’s increased focus on residential development and planned growth through capital partnerships alongside its existing NZ$3.7 billion project pipeline.
We’ll explore how the large-scale capital raise to support new Auckland student accommodation shapes the broader investment story for...