May 17, 2018 / 8:56 PM / 7 days ago

NZ's Goodman Property Trust sells VXV office portfolio for $436.4 mln

May 18 (Reuters) - New Zealand’s Goodman Property Trust (GMT) will sell its majority-held VXV office portfolio to a number of Blackstone funds for NZ$635 million ($436.44 million), the property trust’s manager said on Friday. GMT holds 51 percent of the VXV portfolio through joint venture Wynyard Precinct Holdings Limited, with the balance held by GIC, Singapore’s sovereign wealth fund.

The manager said both firms agreed to the sale, which it expects not to have a material impact on its earnings or distributions for fiscal year 2019. It did not name the Blackstone funds involved in the sale.

$1 = 1.4550 New Zealand dollars Reporting by Aaron Saldanha in Bengaluru

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