Precinct Properties New Zealand Limited entered into conditional agreement to acquire Freyberg Building in Aitken Street in Thorndon for NZD 49 million.

Precinct Properties New Zealand Limited (NZSE:PCT) entered into conditional agreement to acquire Freyberg Building in Aitken Street in Thorndon for NZD 49 million on June 18, 2021. The transaction will be financed from NZD 250 million Equity Raise which will be used to fund the acquisition of two Wellington office buildings, Bowen House in Wellington and Freyberg Building. The transaction is subject to due diligence. As of July 14, 2021, the transaction is now unconditional. The transaction is expected to close on July 15, 2021.