High quality commercial property can deliver stable income to underpin iwi distribution requirements while preserving and enhancing real capital value.  Hāpai Commercial Property has grown a significant collection of high quality, seismically resilient assets, which are primarily leased to Crown and blue-chip tenants, with deliberate diversification across both region and sector.  Core investment criteria include strong tenant covenant (to minimise long-term credit risk), long lease terms, inflationary hedged rent reviews, and sustainability fundamentals. The commercial fund continues to focus on the preservation and enhancement of enduring, reliable, and stable long-term cashflows and yields to its investors – with a particular focus on the logistics and Crown counterparty sectors.