Thursday, 20th December 2018
New South Wales
Wollongong Shopping Centre Dealt by Blackstone (AFR)
Private equity giant Blackstone has sold off more of its shopping centre portfolio, this time to a joint venture between Singaporean group SPH REIT and Moelis Australia (85%/15%). The 21984m² Figtree Grove Shopping Centre was sold for $206 million ($9370/m²) on a yield of 6% with key tenants such as Kmart, Coles and Woolworths.
Blackstone Snaps Up Share of Sydney CBD Office Block (The Australian)
Hong Kong investment management firm PAG has sold their 50% share of the property at 60 Margaret Street Sydney NSW 2000 for $4420 million to equity giant Blackstone. The site of 39,560m² houses both the city’s sixth-largest office tower and the MetCentre at the foot of the building. Blackstone joins Mirvac as joint owners of the building.
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