Canadian pension fund, the Public Sector Pension Investment Board (PSP Investments) has acquired a New Zealand property portfolio controlled by AMP Capital Property Portfolio valued at more than NZ$1 billion.
AMP Capital announced the transaction this week saying the portfolio had been sold on behalf of exiting investors and reinforced the current confidence in New Zealand’s economy and property market.
Commenting on the transaction, AMP Capital Property Portfolio general manager, Stephen Costley said the result had been a great result for both parties with the vendors realising their strategy while the Canadian pension fund had acquired a quality diversified property portfolio.
He said AMP Capital would retain its management of the assets.
