Jasper grow’s Industrial Income Plus Fund to over $100m

Jasper’s Industrial Income Plus Fund is now open to wholesale investors, with the acquisition of 149 Taurikura Drive, Tauriko increasing total fund value beyond $100M. The Fund is raising capital to support this acquisition, providing investors with the opportunity to participate in a high-quality, income-focused portfolio.

The new investment is anchored by a long-dated lease to Cubro Limited, a well-established healthcare equipment business majority owned by BUNZL PLC, a FTSE 100 company. With lease expiry in 2032 and further rights of renewal extending potential occupancy through to 2056, the asset provides a high degree of income certainty, supported by built-in rental growth and market review mechanisms.

The property comprises a modern headquarters and distribution facility with 9,520 sqm of net lettable area on a 15,000 sqm site. Located within Tauriko Business Estate, the asset benefits from its position in the Golden Triangle — a key logistics corridor supported by the Port of Tauranga and strong transport connectivity to Auckland and Hamilton.

In a more volatile environment, industrial assets have continued to demonstrate defensive characteristics, supported by essential-use demand and lease structures that provide a partial hedge against inflation through built-in rental growth and market review mechanisms, reinforcing their role in delivering stable income.

The addition of 149 Taurikura Drive is expected to lift the Fund’s overall income and support higher distributions, while extending the weighted average lease term and improving the resilience of future cash flows. The strength of the tenant covenant and lease structure has also contributed to a reduction in lending margins across the wider Fund.

“149 Taurikura Drive is a high-quality industrial facility in a growing logistics location, secured by a long-term lease to a strong tenant,” said Caity Pask, Acquisition Lead at Jasper. “The asset provides immediate income with built-in growth and aligns with the Fund’s focus on well-located, functional industrial properties.”

Christian Lambert, Investor Relations at Jasper, added: “The Fund has been deliberately built around a core Auckland portfolio, and this acquisition represents a measured expansion into another key logistics market while maintaining the same investment discipline. In a more volatile environment, this provides investors with a flight to quality — prioritising income stability and long-term performance over higher-risk return profiles.”

The Fund provides exposure to a portfolio of 6 well-located, stabilised industrial assets, anchored in Auckland, with a focus on strong tenant covenants and long-duration income, consistently delivering monthly distributions since 2020. This provides investors with a diversified and resilient income profile.

Jasper’s total assets under management have reached ~$500 million, with ~$50 million transacted in the first quarter of 2026, highlighting the team’s ability to maintain a disciplined and steady transaction cadence through market cycles.

About Jasper: Jasper is a specialist commercial real estate investment and asset manager, representing global institutions and investors throughout New Zealand and Australia.