Craigs Investment Partners had an order to sell the shares arrive at 7.45am.
Investors had until 8.30am to email in their orders.
Craigs broker Chris Timms said all shares were gone by 8.30am, reflecting the popularity of company, which had proved to be "robust" during the recession.
The shares traded at $1.97, a 7.1% discount on Monday's market close.
Craigs has a target price of $2.40 a share for the company.
Mr Timms said the discount was necessary to ensure demand as the parcel was large at 4% of the company.
Ryman is building the Yvette Williams retirement complex on Highgate, Dunedin.
It will be holding meetings with Maori Hill residents today.
Ryman announced yesterday it would invest more than $100 million building a retirement village in Tauranga.
The facility - to include townhouses, apartments, a village centre, as well as a rest-home with hospital and dementia-care facilities - would be Ryman's 24th village and its first in Tauranga.
It will be built on a 7.1ha site, close to the Bethlehem town centre.
The retirement village would be home to more than 450 residents, and employ more than 150 staff, Ryman said.
Ryman managing director Simon Challies said Tauranga was home to one of the country's fastest-growing elderly populations, and investment in new rest-home facilities was needed sooner rather than later.
