GMT Highbrook Fund update

nzx release+
GMT – Highbrook Fund update
Date 10 September 2025
Release Immediate
Further to the announcement of 29 May 2025, Goodman Property Trust (GMT) is
pleased to confirm an additional $15 million commitment for the new Highbrook
Fund, increasing the total equity investment from capital partners to $365 million.
The new commitment is from the local arm of one of the original capital partners, a global
investment manager on behalf of Australian and New Zealand discretionary funds. GMT
will retain a 71% cornerstone in the limited partnership that will own the $2.1 billion
estate.
Listing Rule waiver
GMT had received a waiver from Listing Rule 5.2.1 in connection with the original
agreement to establish the fund due to the participation of Goodman Group (a Related
Party of GMT for the purposes of the Listing Rules). The waiver decision and associated
director certificate are available to view at https://www.nzx.com/announcements/452463.
As a result of the waiver, the original agreement to establish the fund did not require
unitholder approval.
The key commercial terms of the additional $15 million investment were negotiated
independently following GMT's entry into the original agreement to establish the fund, and
the investment is an independent transaction from the original agreement with Goodman
Group and the global investment manager (rather than a series of related transactions).
No additional NZX Listing Rule approvals or waivers were therefore required.

For additional information please contact:
James Spence
Chief Executive Officer
Goodman Property Services (NZ) Limited
(09) 903 3269
Andy Eakin
Chief Financial Officer
Goodman Property Services (NZ) Limited
(09) 375 6077

About Goodman Property Trust:
GMT is a managed investment scheme, listed on the NZX. It has a market capitalisation of around $3.3 billion, ranking it in the
top 15 of all listed investment entities. The Trust is New Zealand’s leading warehouse and logistics space provider. The Trust
holds an investment grade credit rating of BBB from S&P Global Ratings.