Thursday, 22nd November 2018
Emerging Asset Class Catching the Eye of Big Investors (AFR)
Institutional infrastructure investors are beginning to venture into disability housing developments with the niche asset class predicted to develop into a $5 billion housing sector backed by funding from the National Disability Insurance Scheme that funds. Macquarie, along with Lighthouse Infrastructure and Australian Unity are understood to be the early parties.
Affordable Housing Pushes Against the Current (AFR)
Within the decline of east coast residential markets, affordable housing providers Ingenia Communities and Lifestyle Communities continue to see rising prices within outer-ring suburbs in NSW, QLD and VIC. The reported 12 month rise of house prices by 4.9% in Ingenia’s communities comes off the back of the hunt for affordable housing by first-home buyers that are being forced to search outside of expensive central areas.
New South Wales and Queensland
Stockland Sell Combined Sites at a Discount (AFR)
Development company Stockland has agreed to the separate sale of its Bathurst and Caloundra shopping malls to both a Moelis Australia fund (Bathurst) and a private investment group (Caloundra) for a combined $113.1 million, a discount to their book values.
Blackstone Group Expands Portfolio (AFR)
An Inghams Group owned 14,479m² cold storage plant at 102 Trade Street, Lytton, QLD 4178 has sold for $55 million to private equity powerhouse Blackstone. The deal was struck on a tight yield of 6.1%.
Former Church Site Sells for $10 Million (AFR)
Millionaire property developer Tim Gurner has added to his Melbourne development pipeline with the acquisition of a 1550m² former church on the fringe of Melbourne city. The property situated at 77 Park St, South Melbourne, VIC 3205 was presented for sale already with a permit for construction of 44 apartments and six townhouses.
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