Precision Group
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| Private | |
| Industry | Property Investment & Management |
| Founded | 1994 |
| Founder | Shaun Bonétt |
| Headquarters | Level 25, 9 Castlereagh Street Sydney, NSW 2000 Australia |
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Key people
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Shaun Bonétt, (CEO & Managing director), Steve Bonètt, (Executive director), Jim Hazel, (Chairman), Edward Piazza, (CFO). |
| Website | www |
Precision Group is an Australian private property investment and management company based in Sydney. Founded in the 1990s by Ross Makris and Shaun Bonett, it owns property in Australia and New Zealand.
Precision Group was founded in the 1990s by Ross Makris and Shaun Bonett. It made its first major acquisition in 1998 with Port Canal Shopping Centre along with the adjacent Customs House office building in Port Adelaide, South Australia from a syndicate managed by Babcock & Brown. In 1999, Precision then acquired Adelaide Central Plaza as a development project for $85 million from David Jones Limited, which was completed in 2000.
In 2006 Precision acquired MacArthur Central in Brisbane via a property swap transaction with Investa Property Group. The total value of the swap transaction was $186 million. Following the Global Financial Crisis in 2009, Precision refinanced over $250 million of its loan facilities with the Bank of China.
In 2015 Precision purchased the Chevron Renaissance Shopping Centre in Surfers Paradise on the Gold Coast of Queensland for $74 million from Arena Investment Management. In May 2016, Precision Group purchased Shore City in Auckland, New Zealand for NZ$90 million.
The company is also an investor for Prezzee, a gift card startup.
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Wikipedia