{"id":127333,"date":"2025-11-10T04:48:07","date_gmt":"2025-11-10T04:48:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/127333\/"},"modified":"2025-11-10T04:48:07","modified_gmt":"2025-11-10T04:48:07","slug":"sylvia-park-lifestyle-sale-kiwi-property-secures-90m-mackersy-agreement","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/127333\/","title":{"rendered":"Sylvia Park Lifestyle sale: Kiwi Property secures $90m Mackersy agreement"},"content":{"rendered":"<p class=\"UYVxLGUpqoLIsFLR\" style=\"display:none\">The deal is subject to Mackersy LFR raising the required funds by mid-December.<\/p>\n<p class=\"UYVxLGUpqoLIsFLR\" style=\"display:none\">Kiwi Property has agreed to buy 50% of the units and underwrite another 25%, giving it up to 75% of the fund, while receiving between $52.9 million and $65.3m cash for the sale of the property to the fund.<\/p>\n<p class=\"UYVxLGUpqoLIsFLR\" style=\"display:none\">Mackersy chief executive Hamish Wilton said the new fund would suit wholesale investors to invest in large format retail, which tends to be resilient in all market conditions.<\/p>\n<p class=\"UYVxLGUpqoLIsFLR\" style=\"display:none\">\u201cOur valued relationship with Kiwi Property has meant we have been able to secure Sylvia Park Lifestyle as the initial seed asset for the fund.\u201d<\/p>\n<p class=\"UYVxLGUpqoLIsFLR\" style=\"display:none\">Sylvia Park Lifestyle covers 16,500sq m and houses major retailers such as Animates and Spotlight.<\/p>\n<p class=\"UYVxLGUpqoLIsFLR\" style=\"display:none\">Kiwi Property Group also invested in the parent company, Mackersy Property in November 2024, and expects this to convert to a 50% stake in December 2025.<\/p>\n<p class=\"UYVxLGUpqoLIsFLR\" style=\"display:none\">\u2013 <a href=\"https:\/\/www.rnz.co.nz\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.rnz.co.nz\/\">RNZ<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"The deal is subject to Mackersy LFR raising the required funds by mid-December. Kiwi Property has agreed to&hellip;\n","protected":false},"author":2,"featured_media":127334,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[88359,19064,138,194,263,88360,111,139,69,8143,814,1133,50435,88358],"class_list":["post-127333","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-90m","tag-agreement","tag-business","tag-kiwi","tag-lifestyle","tag-mackersy","tag-new-zealand","tag-newzealand","tag-nz","tag-park","tag-property","tag-sale","tag-secures","tag-sylvia"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/127333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=127333"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/127333\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/127334"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=127333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=127333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=127333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}