Street Talk understands that Elanor, advised by MA Moelis, is seeking to finalise a price and terms with Jasper’s founders, in a deal that would significantly bolster its book of assets across the Tasman.Elanor, run by former Grange Securities boss Glenn Willis, is understood to see Jasper as the leaders in acquiring industrial properties in New Zealand, thanks in part to its strong property tech capabilities.
Investment banking sources said the talks were incomplete, however Elanor remained confident of securing the business.Jasper was founded by Kiwi entrepreneurs Mark Hurley and Mark Campbell only a few years ago. It has quickly grown to have 14 assets worth $NZ320 million, and a $NZ13.6 million annual rent roll.
The management company Elanor Investment Group has a $225 million market capitalisation and its investors include Singapore’s Rockworth Capital and Australia’s Perpetual. It was added to Australia’s All Ordinaries Index in March.