PMG are pleased to welcome private equity firm Oriens Capital to the PMG family as a new partner.
Also based in Tauranga, Oriens is a private equity firm that has successfully partnered with leading New Zealand businesses since its establishment in 2016.
Oriens will take the place of PMG's previous 50 percent equity partner, Australian REIT, 360 Capital, who are exiting to reallocate capital back within their domestic portfolio.
The new partnership agreement sees Oriens take a 35 percent equity stake in PMG and Oriens partner, James Beale, join the PMG board. It has also provided PMG staff and directors with the chance to invest into the business.
PMG CEO Scott McKenzie says: "We are really proud to partner with Oriens Capital who are close to us in proximity and in values, as we continue to focus on doing right by our investors, our tenants and in our commitments to sustainability and supporting our communities.
"We’re proud that as a now fully New Zealand-owned business, we continue to lead the way in New Zealand’s unlisted commercial real estate sector – providing investors with regular, reliable returns through identifying quality properties and then managing them ourselves with a focus on what’s right for our investors, our tenants and the environment.
"Oriens’ commitment, and indeed that of our team, is an endorsement of our approach and underlines the enduring strength of the commercial real estate sector as an investment asset class," says Scott.
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