Pacific Property Fund completes acquisition of 390 Prestons Road

Following the successful merger of Pacific Property Fund Limited and PMG Generation Fund, and the close of Pacific Property Fund's first capital raise of the year, the Fund has now completed the acquisition of the remaining 60% interest in 390 Prestons Road, Christchurch.

Pacific Property Fund now owns the property in full, having held a 40% interest since the property was acquired on completion of development in January 2026.

The acquisition puts capital raised from investors to work in a modern, purpose-built large-format retail asset, fully occupied by Mitre 10 under a long-term lease. It also demonstrates what greater scale can enable.

Following the merger, Pacific Property Fund has grown in both size and diversification, giving it greater capacity to consider quality acquisition opportunities and actively manage capital across its portfolio.

The subsequent capital raise provided additional capacity to complete the planned acquisition of 390 Prestons Road.

Scaling with purpose

Scale is often measured through portfolio value, the number of properties held or the amount of capital raised. Those figures tell only part of the story. The greater value lies in what that scale enables a fund to do for investors.

For Pacific Property Fund, it provides greater flexibility when considering acquisitions, managing debt, investing in existing properties and making decisions across a broader portfolio. It also reduces the Fund's reliance on the performance of any one property, tenant, sector or location.

Diversification does not remove risk, and greater size does not guarantee performance. Both need to be supported by disciplined investment decisions and active management of the underlying properties.

The acquisition of 390 Prestons Road is a practical example. Rather than pursuing growth for its own sake, the Fund has used additional capital to complete an investment pathway that was already established and aligned with its long-term portfolio strategy.

Learn more about the Pacific Property Fund, including the portfolio and how to get involved, here.

Disclaimer: The information in this blog is general and current as of September 2026. It is not intended as regulated financial advice under the Financial Markets Conduct Act 2013 and does not consider your specific circumstances. PMG does not provide financial advice. Please consult a licensed financial advisor before making investment decisions.