Precinct Properties raises $310M to cut debt and boost development, including a $201M Auckland student housing project.

Precinct Properties, a New Zealand-listed real estate firm, has launched a $310 million equity raise—$285 million underwritten and $25 million via a share purchase plan—to repay debt and advance its $3.7 billion development pipeline, including a $201 million student housing project in Auckland. The funds will reduce pro forma gearing to 33.2% and support residential and commercial projects, with the company reaffirming its 2026 dividend guidance. Trading in its stapled shares was halted during the capital raise, which is being conducted through institutional investors in New Zealand, Australia, and select international markets.