After the global financial crisis, PMG wanted to develop a model that could withstand future economic cycles with less reliance on one type of property or location, in comparison to a syndicate model.
In 2014, we established Pacific Property Fund Limited (PPF) with a goal to develop a portfolio of resilient, diversified industrial, office and retail properties across New Zealand.
Today, PPF is our largest directly held commercial property fund, available directly to everyday Kiwi investors. It has provided investors with regular cash returns alongside long-term growth of their investment capital through 23 high-quality properties.
PPF's first property
Aiding the creation of the Fund was PMG’s acquisition of the Truman Lane, Mount Maunganui property from the developer. The property is tenanted by Evergreen Garden Care Limited (formally known as Tui Products Limited), who have marked strong growth since moving into the site.
Established in Mount Maunganui in 1999, Chief Financial Officer Andrew Grice says Evergreen Garden Care is now one of New Zealand’s largest distributors of garden products. As manufacturers and distributors of popular garden, pet and home products, Evergreen Garden Care are a strong team of 85 who are deeply proud of their brand and products.
“We had outgrown our previous site in Mount Maunganui and needed somewhere to maximise efficiency and better support our customers,” says Andrew.
Focus on future growth
“After a bit of searching, we came across Maungatawa Papamoa Blocks Limited who were developing the area into a commercial operation to establish a profitable use of their land. We were the first to take the opportunity to work with them and take on the new location. Truman Lane has changed completely ever since, becoming a strong area of commercial development.”
The Truman Lane property’s land is owned by Maungatawa while Pacific Property Fund own the facility, which is proudly managed by PMG and marked the start of PMG’s relationship with local iwi.
“As a growing company, the new site made a huge difference for us. When we initially designed the facility, we future proofed its size and storage for 10 years. It only took us two or three years before I had to call Scott McKenzie at PMG to look at building a second shed to help facilitate our growth.
Working with PMG, we built the shed, and it has been a part of the exponential growth we’ve seen as a business since 2014,” says Andrew.
Property partner of choice
“We want to get on with what we do best, which is manufacturing and distributing our products, and we can do this with PMG.
“The team are collaborative – they listen to anything we want to run past them and come up with ideas. We consider these aspects to be important. As a landlord, PMG are a call away and respond quickly, and remedy any issues fast.”
Find out more about our PPF, our properties and how we work with our stakeholders to foster growth and secure a better financial future for New Zealand businesses and investors on our website at pmgfunds.co.nz.
With a range of investment funds to suit New Zealanders of all ages and stages, it's easier than you may think to invest. Give one of our knowledgeable pmg Investor Relationships Managers a call for a no-obligation chat, or visit our FAQ page.
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To start investing with PMG, register your contact details via phone or email. Alternatively, make an enquiry via our contact form and we’ll have someone from our Investment Relationships Team meet you.
Watch PMG’s history video to learn more about our approach to commercial property investments, along with the five funds within the company. We encourage you to speak with a friend or family member who knows us, and we also recommend you chat with a Financial Advice Provider for specific advice to suit your unique situation.
Look through our current investment offers to find the right PMG fund to suit you. After downloading, carefully review the associated Product Disclosure Statement(s) for the offer(s) you’re interested in. Investing with us is straightforward – either apply online using our secure and confidential investor portal, via the printable form on each fund page, or reach out to your local PMG office to fill out the relevant paperwork.
Our lines of communication are always open. If you have any questions, reach out to your local PMG Investor Relationships Manager. Whether it’s a general catch up or discussion around the latest developments with your investment, we’re here to help.