FortHill Property
FortHill Property is a New Zealand wholesale industrial property investment fund (PIE) that owns 21 fully-tenanted Class-A industrial properties worth NZ$456m+ for wholesale investors, with an 8.4-year WALT and exclusive Calder Stewart development pipeline access.
- Company typePrivate
- Founded2019
- HeadquartersChristchurch, New Zealand
- Headcount11–50
- GTM typeB2B
- OfferingServices
What FortHill Property does
FortHill Property is a New Zealand wholesale industrial property investment fund established in 2019 by construction firm Calder Stewart. It is structured as a Portfolio Investment Entity (PIE) limited liability company that issues shares to wholesale investors under the Financial Markets Conduct Act 2013, with a minimum subscription of NZ$1,000,000 per the July 2022 fundraise. The fund serves NZ wholesale and eligible investors (high-net-worth individuals, family offices and the Stewart Family cornerstone shareholders) seeking inflation-protected, stable income and capital growth through diversified exposure to Class-A industrial property.
The underlying portfolio comprises 21 fully-tenanted industrial properties valued at over NZ$456 million, with a weighted average lease term (WALT) of 8.4 years. Properties are developed primarily by Calder Stewart and feature investment-grade sustainable specifications including high-stud warehouses (up to 12.5m), structural reinforcement for future solar generation, energy-efficient envelopes, HVAC, building management systems, EV chargers and rainwater harvesting. Tenants include recognised national and international brands across logistics, e-commerce, food retail, building products, automotive distribution and construction/mining equipment sectors — among them DHL, Komatsu, YHI International (Singapore-listed), OfficeMax, PlaceMakers, My Food Bag, Supply Chain Solutions, Sorted Logistics, NZ Safety Blackwoods (part of ASX-listed Wesfarmers) and Tasman/Laminex.
FortHill's revenue model is built on long-WALT, triple-net-style industrial leases with fixed annual rental escalators, producing predictable net rental income that has supported an unbroken chain of quarterly dividends since 2019 with reported double-digit annual returns. Equity is raised several times per year in dedicated wholesale rounds matched to identified acquisitions (June 2020: NZ$30m; April 2021: NZ$25–50m; July 2022: paused). Distribution is high-touch and direct — phone (03 361 0134), a Register Interest web form, and an investor portal at investors.stewartfamily.capital — with all offers restricted to NZ wholesale or eligible investors. A parallel ecosystem play through Calder Stewart Energy monetises an estimated 250,000m² of unutilised roof space via solar installations at no upfront capital cost to the fund, supporting the stated ambition to reach a NZ$1b+ portfolio over the next 5+ years.
FortHill Property firmographics
Firmographics- Name
- FortHill Property
- Legal name
- FortHill Property Ltd
- Website
- https://forthill.co.nz
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- FortHill Property is a New Zealand wholesale industrial property investment fund (PIE) that owns 21 fully-tenanted Class-A industrial properties worth NZ$456m+ for wholesale investors, with an 8.4-year WALT and exclusive Calder Stewart development pipeline access.
- Ownership category
- akta.pro rank
FortHill Property industry classification
Industry- Product category
- Industrial Real Estate Investment
- NAICS
- Portfolio Management and Investment Advice (52394), Other Financial Vehicles (52599)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Real Estate Funds — Opportunistic / Development (FSANAEAI)
- akta.pro secondary industries
- Tail-End / Residual Portfolio Secondaries (FSANAFAK), Secondaries Co-Investments & Annex Funds (FSANAFAF), Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL), Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ)
Keywords
Where FortHill Property is headquartered
LocationHeadquarters
- HQ city
- Christchurch
- HQ country
- New Zealand
- HQ region
- Oceania
Offices2 records
Markets served
FortHill Property business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D, Supply Chain
Revenue model
- Wholesale equity raises (share issuance): FortHill is a limited liability company that issues shares to wholesale investors and is a PIE (Portfolio Investment Entity) for tax purposes. Equity is raised periodically (several times per year) to fund acquisitions, with disclosed raises including $30m (June 2020), $25m-$50m (April 2021), and a paused July 2022 round originally targeted for Drury South and Waterloo projects. Minimum investment for new investors was $1,000,000 in the July 2022 raise.
- Rental income from industrial tenants: Underlying portfolio income is generated from long-WALT (8.4-8.6 years) triple-net-style industrial leases with recognised national and international tenants. Most tenancies include fixed annual rental increases, providing predictable cash flow to support quarterly dividend distributions to shareholders.
- Quarterly dividends to shareholders: FortHill has paid an unbroken chain of quarterly dividends since inception in 2019, delivering double-digit annual returns and a 6.50% gross return in its first year (per the 2019 Investment Memorandum forecast). Dividend stream is funded by net rental income after operating costs and debt servicing.
- Solar energy / roof-space revenue (emerging): Through the Calder Stewart Energy partnership, FortHill grants roof-space rights for solar installations in return for an additional revenue stream with no upfront capital cost, helping future-proof buildings and meet sustainability targets.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Wholesale investor share subscription (minimum $1,000,000) |
| Other | Pay-as-you-go | PIE-structured equity issuance (wholesale investors) |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
FortHill Property product offering
Product offeringCore offering
FortHill Property operates a wholesale industrial property investment fund in New Zealand, channeling capital from wholesale investors into a portfolio of Class-A industrial assets leased to nationally and internationally recognized tenants under long-WALT (8.4 years) triple-net-style leases. The fund targets wholesale investors as defined under the Financial Markets Conduct Act 2013 and provides quarterly dividends funded by net rental income.
Product overview
FortHill Property is a single-product wholesale industrial property investment fund rather than a multi-module software platform. Its core offering is the FortHill Property Industrial Investment Fund, a PIE (Portfolio Investment Entity) structured limited liability company that issues shares to wholesale investors as defined under the Financial Markets Conduct Act 2013 and channels that capital into the FortHill Property Portfolio of Class-A industrial assets across New Zealand. Investor servicing is delivered through the FortHill Property Investor Portal hosted at investors.stewartfamily.capital, while tenant-facing activity is provided via the FortHill Property Leasing Service. Layered on top of these is the FortHill × Calder Stewart Solar / Energy Programme, a partnership-enabled sustainability add-on that retrofits and pre-fits portfolio buildings with solar generation through Calder Stewart Energy. Together these offerings make up a fund-centric stack: capital is raised into the fund, deployed into the portfolio, leased out to tenants under the leasing service, and increasingly future-proofed through the solar programme.
Differentiator
Problem solved
Functional benefit
Products and services
- FortHill Property Industrial Investment Fund Wholesale-only New Zealand industrial property investment fund (PIE entity) providing investors with access to a diversified portfolio of Class-A industrial assets leased to nationally and internationally recognized tenants. Targeted at wholesale investors under the Financial Markets Conduct Act 2013, with a minimum investment of NZ$1,000,000 per the July 2022 fundraise.
- FortHill Property Leasing Service
Companies that use FortHill Property
Customer profileNamed customers10 records
Segments2 records
Ideal customer profiles2 records
FortHill Property technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature4 records
FortHill Property partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered flagship / core and core.
- Calder Stewartflagship / coreCalder Stewart founded FortHill Property in 2019 and underpins it with 70 years of construction capability. Calder Stewart builds the majority of FortHill's Class-A industrial assets, providing off-market access to a continuous pipeline of new properties. Most FortHill properties (e.g., YHI, Sorted Logistics, OfficeMax, DHL) were constructed by Calder Stewart, with the steel structure strengthened at construction to support future solar generation.
- Calder Stewart EnergycoreCalder Stewart Energy is a standalone Calder Stewart-launched company that designs, installs and manages solar and energy systems for FortHill properties. FortHill grants roof-space rights in return for a new revenue stream with no upfront capital cost, while tenants gain long-term electricity price hedging via solar contracts aligned to lease terms.
Scale indicators12 records
Recent moves6 records
Expansion highlights5 records
FortHill Property competitors and assessment
Company assessmentDirect peers
- Stride Property Group: NZX-listed property group with industrial and mixed-use assets across New Zealand. Comparable as a diversified NZ landlord with industrial exposure, competing for similar tenant covenants.
- Goodman Property Trust: NZX-listed industrial property trust investing in prime industrial assets across Auckland and Hamilton. Directly comparable as a NZ industrial landlord with similar tenant profile and asset class, and explicitly referenced by FortHill as a benchmark (18% under-rented).
- Argosy Property: NZX-listed property company with a mixed industrial and large-format retail portfolio across New Zealand. Comparable as a NZ institutional landlord competing for similar industrial tenants and developments.
- Centuria Industrial REIT: ASX-listed pure-play industrial REIT investing in Australian logistics and industrial assets. Comparable as an industrial-only listed fund targeting institutional and wholesale investors with a similar long-WALT, multi-tenant model.
- Property for Industry (PFI): NZX-listed industrial property fund owning a portfolio of industrial properties leased to corporate tenants across New Zealand. FortHill directly cites PFI's 11% under-rented position as a peer benchmark.
Broad incumbents
- Goodman Group: ASX-listed global industrial property giant with significant Australasian logistics exposure. Comparable as a large-scale, institutional industrial landlord operating in the same geography and asset class as FortHill.
- ESR Group: Asia-Pacific focused logistics and industrial real estate platform with significant Australasian exposure. Comparable as a large-scale institutional logistics landlord whose tenant mix overlaps with FortHill's DHL and YHI-adjacent customer base.
- Dexus (ASX-listed industrial exposure): ASX-listed real estate group with a major industrial/logistics portfolio alongside office. Comparable as a large Australasian landlord competing for similar industrial tenant covenants and development pipelines.
- Charter Hall Group: ASX-listed property funds manager running industrial, office, retail and social infrastructure vehicles. Comparable as an institutional industrial landlord and fund manager operating long-WALT lease portfolios similar to FortHill's model.
Others
- Calder Stewart: New Zealand industrial construction company that founded FortHill in 2019 and remains its primary developer and cornerstone shareholder. Comparable as the strategic enabler and counter-party rather than a competing landlord.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
FortHill Property social profiles
Digital presenceFortHill Property compliance and trust
Trust signalCompliance1 record
FortHill Property financial estimates
Financial estimateRevenue estimate
Valuation estimate
FortHill Property leadership team
Management profileNumber of profiles
Profiles1 record
FortHill Property funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
FortHill Property M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about FortHill Property
What does FortHill Property do?
FortHill Property operates a wholesale industrial property investment fund in New Zealand, channeling capital from wholesale investors into a portfolio of Class-A industrial assets leased to nationally and internationally recognized tenants under long-WALT (8.4 years) triple-net-style leases. The fund targets wholesale investors as defined under the Financial Markets Conduct Act 2013 and provides quarterly dividends funded by net rental income.
Is FortHill Property a public or private company?
FortHill Property is a private company. It is classified as venture growth investor backed and is currently operating.
When was FortHill Property founded?
FortHill Property was founded in 2019. It employs 11 to 50 people.
Where is FortHill Property based?
FortHill Property is headquartered in Christchurch, New Zealand, in the Oceania region.
How does FortHill Property make money?
Four revenue lines are on record. Wholesale equity raises (share issuance) is the primary driver. The others are rental income from industrial tenants, quarterly dividends to shareholders and solar energy / roof-space revenue (emerging).
Who are FortHill Property's main competitors?
Direct peers on record are Stride Property Group, Goodman Property Trust, Argosy Property, Centuria Industrial REIT and Property for Industry (PFI). Broad incumbents are Goodman Group, ESR Group, Dexus (ASX-listed industrial exposure) and Charter Hall Group. Calder Stewart is listed as an others.
Does FortHill Property have an API?
No public API is recorded for FortHill Property.
What industry is FortHill Property in?
FortHill Property's product category is Industrial Real Estate Investment. Its primary akta.pro industry code is FSANAEAI, Real Estate Funds — Opportunistic / Development, with a secondary code of FSANAFAK, Tail-End / Residual Portfolio Secondaries. Its NAICS code is 52394 and its SIC code is 6211.