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Hot Topic Scrutiny Week
Hot Topic Scrutiny Week
Property
2 mins to read

Debt forces asset sales at Oyster

Rising interest costs and falling valuations put pressure on unlisted syndicates.

The Oyster Direct Property Fund sold a property at Harris Rd, East Tamaki in February.

Tim Hunter Wed, 20 Mar 2024

Falling commercial property values have forced the Oyster Direct Property Fund to sell assets after breaching a debt covenant.

The unlisted vehicle held $90.4 million of property directly as of September last year, as well as interests in individual Oyster property syndicates valued at $111.6m.

Those

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Tim Hunter Wed, 20 Mar 2024
Contact the Writer: thunter@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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Debt forces asset sales at Oyster
Property,
103268
true