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Kiwi Property waits for Government on interest deductibility after securing consent for big purpose-built rental apartment block near Sylvia Park


Marta Steeman17:44, Jul 12 2021
Supplied
Kiwi Property has resource consent for the development of an almost 300-apartment block close to its Sylvia Park Shopping Centre.
Big landlord Kiwi Property is waiting for final terms on interest deductibility for new builds before making a decision on developing nearly 300 apartments for long-term rental near its Sylvia Park Shopping Centre.
The retail and office landlord has consent for development of almost 300 units at a site across from its Sylvia Park Shopping Centre in Auckland, and is seeking consent for another “build-to-rent” apartment and office development at LynnMall.
Pioneering build-to-rent developers New Ground Capital managing director Roy Thompson said if the Kiwi Property development at Sylvia Park went ahead it would be the biggest so far in New Zealand. ....

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Build-to-rent is the best way to fix the 'broken' rental market - developer says


“It leads to substandard conditions and a lack of security of tenure for tenants. The result is that renting, and tenants, are considered second class.”
Since returning to New Zealand recently, Gardner had become an advocate for build-to-rent developments which he believed was part of the solution to the country’s housing woes.
Build-to-rent involves the development of multi-unit residential buildings for long-term rentals, rather than sales to individual owners.
Supplied
Developer Kent Gardner says the build-to-rent model can help fix the broken housing rental system.
It has become both a major part of the rental market and a sought after investment asset class in Europe and the United States and is now taking off in Australia. ....

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MiddleGround Capital Closes on $736 Million for Its Current Fund Offerings, Buoyed by Strong Demand From Existing LPs


Press release content from Business Wire. The AP news staff was not involved in its creation.
MiddleGround Capital Closes on $736 Million for Its Current Fund Offerings, Buoyed by Strong Demand From Existing LPs
April 30, 2021 GMT
LEXINGTON, Ky. (BUSINESS WIRE) Apr 30, 2021
MiddleGround Capital, a Kentucky-headquartered, middle market private equity firm that makes control investments in B2B industrial and specialty distribution companies, has closed on $736 million in commitments for a series of funds that includes its flagship fund MiddleGround Partners II, LP; MiddleGround Partners II-X, LP; and Mobility Opportunity Fund, LP. MiddleGround has exceeded its target of $550 million for MiddleGround Partners II, launched in January 2021, due to strong demand from incumbent investors. MiddleGround Fund II-X is a parallel co-investment vehicle which will invest alongside Fund II. The Mobility Opportunity Fund is a dedicated overflow vehicle focused on investments in t ....

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