We are proud to have assisted Te Rūnanga o Toa Rangatira (Ngāti Toa) with their recent landmark acquisition of 80 hectares of leaseback school land in Hutt Valley. This land holds significant cultural and historical importance for Ngāti Toa.

The long-term value in this transaction lies in creating a perpetual income stream through Crown leases. In order to finance the acquisition, we assisted Ngāti Toa to securitise the rental stream with a mortgage structure involving:

1. junior and senior debt tranches;
2. multiple lenders; and
3. a security trustee ‘lockbox’.

The lead partners on the transaction were Martin Dalgleish and Keegan Toft, Corporate, and Liz Lim, Banking and Finance, with support from Senior Associate, Oliver Hobbs, Property, working alongside the team from Armillary, who acted as the Sole Arranger of the financing transaction.

You can read more about the acquisition here.

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