6 Aug 2026
PMG has launched its first retail investment offer of 2026: a move that will enable more Kiwis to gain exposure to quality commercial real estate investment through New Zealand’s largest diversified unlisted commercial property fund.
Recently expanded following the integration of the PMG Generation Fund, the Pacific Property Fund will post-raise comprise a nationwide portfolio of 21 industrial, 4 large-format retail and 4 office properties. The portfolio has a collective value of over $700 million and 98% occupancy through over 110 tenancies with a WALT of 6.3 years.
PMG Funds Chief Executive, Scott McKenzie, says the integration of the two funds has enabled subtle changes to be made to the overall fund constitution to both strengthen the fund attributes for existing investors and create greater opportunities for new investors to build wealth through commercial property investment in a way that suits them.
These include reducing the minimum initial investment parcel to just over $1,000; introducing a reinvestment facility for Pacific Property Fund that enables investors to take advantage of compounding interest rather than take out distributions; and the intent for an annual share repurchase window to be available to support investors who may wish to access some or all of their investment capital.
“Since 2014, the Pacific Property Fund has provided investors with regular distributions with an annualised total return of 7.7% p.a. In 2020 we launched our Generation Fund, which while smaller in portfolio size, featured a lower entry point and offered a reinvestment facility, making it more attractive to a broader range of investors, including those with less starting capital.
“Now, by bringing the two funds together, we’re able to support the investment ambition of a wide investor base through the one product, enabling more New Zealanders to benefit from the increased resilience, income and growth potential provided by greater diversification and scale.”
McKenzie says the aim of the capital raise is to attract up to $40 million of investment, with $10 million already committed. The new capital will facilitate completing the acquisition of a new Mitre10 Mega store in Christchurch, of which the fund currently owns 40%, and position it to take advantage of further opportunities as they arise.
“As we’ve seen from the strong overseas interest and purchasing activity of the last few years, New Zealand’s commercial property market, in particular quality industrial and large format retail buildings in our main centres, continues to be in demand for the value it offers investors.
“By strengthening the Pacific Property Fund, we’ll be even better positioned to respond swiftly to acquisition opportunities, giving more Kiwis access to robust, diversified commercial property investment while keeping ownership of our quality buildings, and the returns from them, here in New Zealand.”
The Pacific Property Fund investment offer period is intended to remain open to retail investors until 26 August 2026.
Disclaimer: This is an offer of shares in Pacific Property Fund Limited (Fund) (the issuer). A Product Disclosure Statement (PDS) is available free of charge from pmgfunds.co.nz.
Any information provided to prospective investors is general only and does not constitute financial advice. Prospective investors should seek advice from a licensed Financial Advice Provider, who takes into account the investor’s personal circumstances. PMG Property Funds Management Limited (PMG) (as provider of management services to the Fund) and its Investor Relationships team do not provide financial advice.
Like any investment, an investment in the Fund comes with risks and there is a chance you may lose some or all of your money. Prospective investors should seek advice from a licensed Financial Advice Provider. PMG and its Investor Relationships team do not provide financial advice.
Past performance is not a reliable indicator of future performance. Returns are not guaranteed and investments involve risks, including the potential loss of capital. Total return since inception reflects historical gross cash returns and capital growth between 2014 and 2026.
Other indicative metrics (including portfolio value, number of properties, and occupancy) are forecast as at 31 August 2026. These metrics reflect the merger of the Fund and PMG Generation Fund, and are based on the assumption that the capital raise offer under the PDS proceeds, and an additional property investment is acquired (amongst other factors). These metrics are indicative only and are subject to change.
Details on the risks associated with an investment in PPF are set out in the PDS, which is available free of charge on PMG’s website, pmgfunds.co.nz.
