Tainui Group Holdings (TGH) and Brookfield Asset Management have entered into a long-term joint venture to supercharge the development of Ruakura Superhub in Hamilton, New Zealand.
The joint venture will initially purchase four existing industrial/logistics buildings on long-term ground leases at Ruakura Superhub, which are tenanted by Kmart, Big Chill, Refrigafreighters and PBT Express.
The joint venture intends to develop out a further 70 hectares (173 acres) of logistics development assets at the intermodal logistics precinct, with a forecast completion value of more than NZ$1 billion ($590 million), and will consider further investment opportunities that present strong risk-adjusted returns.
Ruakura Superhub is in New Zealand’s major supply-chain corridor, servicing around 45 percent of New Zealand’s population, 42 percent of the nation’s freight and 55 percent of the country’s GDP. The site provides optimal connectivity and cost efficiencies, with a
