{"id":74587,"date":"2025-10-12T23:06:08","date_gmt":"2025-10-12T23:06:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/74587\/"},"modified":"2025-10-12T23:06:08","modified_gmt":"2025-10-12T23:06:08","slug":"precinct-properties-launches-310m-equity-raise-to-fund-growth-pipeline","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/74587\/","title":{"rendered":"Precinct Properties launches $310m equity raise to fund growth pipeline"},"content":{"rendered":"<p class=\"iNwUpnfLcxPBLSL\" style=\"display:none\">\u201cPrecinct\u2019s premium office portfolio continues to outperform in terms of occupancy and rental growth,\u201d he said.<\/p>\n<p class=\"iNwUpnfLcxPBLSL\" style=\"display:none\">\u201cWe have a proven track record of developing world-class real estate, and we have positioned our business for growth through our development and capital partnering strategies,\u201d he said.<\/p>\n<p class=\"iNwUpnfLcxPBLSL\" style=\"display:none\">Precinct is targeting $4-5b of capital partnerships over the next three to five years.<\/p>\n<p class=\"iNwUpnfLcxPBLSL\" style=\"display:none\">The equity raise was expected to increase flexibility to progress Precinct\u2019s pipeline of development opportunities, including the facility at 256 Queen Street, planned development of Downtown Car Park, residential build-to-sell projects and other growth opportunities.<\/p>\n<p class=\"iNwUpnfLcxPBLSL\" style=\"display:none\">Following the equity raise, the company\u2019s pro forma gearing wold be 33.2%, down from 41.6% as at June 30, 2025.<\/p>\n<p class=\"iNwUpnfLcxPBLSL\" style=\"display:none\">The dividend per share guidance provided at the full-year result of 6.75 cents per share for 2026 was consistent with 2025, reflecting a funds from operations payout ratio of 90-92%.<\/p>\n<p class=\"iNwUpnfLcxPBLSL\" style=\"display:none\">Precinct said the $285m placement would be conducted today through a book build in which institutional and other select investors in New Zealand, Australia and certain other jurisdictions would be invited to participate.<\/p>\n<p class=\"iNwUpnfLcxPBLSL\" style=\"display:none\">Jamie Gray is an Auckland-based journalist, covering the financial markets, the primary sector and energy. He joined the Herald in 2011.<\/p>\n<p>Listen and subscribe to the <a href=\"https:\/\/www.iheart.com\/podcast\/1049-today-in-business-287718209\/\" rel=\"nofollow noopener\" title=\"https:\/\/www.iheart.com\/podcast\/1049-today-in-business-287718209\/\" target=\"_blank\">Today in Business<\/a> podcast \u2013 the top headlines from the NZ Herald business team summarised and delivered by an artificial intelligence (AI) voice as an easily digestible recap.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cPrecinct\u2019s premium office portfolio continues to outperform in terms of occupancy and rental growth,\u201d he said. \u201cWe have&hellip;\n","protected":false},"author":2,"featured_media":74588,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[654,58419,58417,58415,138,1137,25282,295,3499,1743,1739,1132,111,139,58420,69,58416,3525,35699,2170,56448,1356,13673,2515,2122,17902,210,61,58418],"class_list":["post-74587","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-25m","tag-285m","tag-58417","tag-310m","tag-business","tag-equity","tag-fully","tag-fund","tag-growth","tag-launched","tag-launches","tag-million","tag-new-zealand","tag-newzealand","tag-nonunderwritten","tag-nz","tag-nzxlisted","tag-pipeline","tag-placement","tag-plan","tag-precinct","tag-properties","tag-purchase","tag-raise","tag-share","tag-targeting","tag-through","tag-to","tag-underwritten"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/74587","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=74587"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/74587\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/74588"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=74587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=74587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=74587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}