What’s at stake: Du Val has called investors in its build-to-rent fund into a hastily-arranged briefing to discuss the future of the fund, as its biggest lender has called its 50% loan on the fund.
Background: The fund, valued at $34m, is backed by two Auckland rental properties with 171 apartments. Its main lender, China Construction Bank, put up half the original funds, but the loan expires on June 30.
Main players: Du Val Group, China Construction Bank, Kenyon and Charlotte Clarke, Owen Culliney, John Dalzell, Jeremy Johnson.
The managers of Du Val’s build-to-rent fund have called the first meeting of its partners since the inception of the fund almost three years ago, less than two weeks before the expiry of its loan from China Construction Bank on June 30.
In a letter to the partners this week, Du Val BTR general
Want to read more? It's easy.
Choose your best value subscription option
Student
Exclusive offer for uni students studying at a New Zealand university (valued at $499).
What’s at stake: Du Val has called investors in its build-to-rent fund into a hastily-arranged briefing to discuss the future of the fund, as its biggest lender has called its 50% loan on the fund.
Background: The fund, valued at $34m, is backed by two Auckland rental properties with 171 apartments. Its main lender, China Construction Bank, put up half the original funds, but the loan expires on June 30.
Main players: Du Val Group, China Construction Bank, Kenyon and Charlotte Clarke, Owen Culliney, John Dalzell, Jeremy Johnson.
