Rangitāne Investments is pleased to announce that it recently invested in Hāpai Commercial Property with an investment of $3.0m. Hāpai Commercial Property LP (Hāpai) is a collective Iwi investment vehicle with six properties across various regions (i.e. Tauranga, Hawkes Bay, Auckland) and sectors (i.e. commercial, education and industrial) across New Zealand. This range of properties and sectors provides good diversity and stable returns to Limited Partners, and with a number of its tenants being either Crown or deemed essential services, has proven resilient in the challenge times over the past year. Hapai Commercial Property will enable Rangitāne to diversify its investment portfolio and reduce its risk by having all its ‘eggs in one basket’ by investing outside rohe.
The latest investment made by Hāpai Commercial was in partnership with mana whenua Ngāi Tai ki Tāmaki and was the purchase of Macleans College in Auckland with a long term leaseback to the Crown. The investment fundamentals of Hāpai Commercial Property, its ability to access off-market opportunities via Iwi proprietary access and ensure optimal returns are provided to its investors, is deemed by the board to be a solid and prudent investment and enable Rangitāne to continue to grow our pūtea and forge new relationships with other Iwi partners.