Deals of the Week: 10 August 2018

Deals of the Week: 10 August 2018

National: One of Australia’s largest retail landlords, Vicinity Centres, has formed a $1 billion wholesale fund with Singapore group Keppel Capital. The new wholesale fund would boost Vicinity’s total strategic partnerships business to close to $12 billion of assets under management. ASX-listed Vicinity own $16.1 billion of retail assets and manage some $26.1 billion in assets across the full retail asset spectrum.—The Urban Developer.

Brisbane: Singapore’s Rockworth Capital Partners has snapped up a 17-storey office tower at 100 Edward Street for more than $60 million. They bought the tower a fund managed by Evolution Private. The busy Singaporean investor already has exposure to Queensland’s market with three shopping centres. The tower stands on a large 1,400 square metre site and comprises 7,120 square meters of office space.—AFR.

Brisbane: Singaporean property trust Ascendas REIT has picked up a Brisbane business park for $33.5 million, in the latest expansion of its Australian portfolio. The office estate at 56 Lavarack Avenue in Eagle Farm, sold by private player CavCorp, is known as the Cargo Business Park and covers 7,786 square metres.—AFR.

Victoria: In the largest single farm transaction in Victoria’s history, Hassad Australia, owned by Qatar’s sovereign wealth fund, the Qatar Investment Authority, has struck a deal to sell Telopea Downs in western Victoria. The deal is set to fetch well over $70 million and while details of the buyer have not been revealed, names including the McBride family have mentioned as the likely buyer.—AFR.

Melbourne: In one of the year’s largest industrial deals, international property group Logos has swooped on the Kmart distribution centre in Truganina, Melbourne, for close to $120 million. Signalling the group’s commitment to expanding its $4.2 billion worth of holdings, the Kmart complex is the firm’s third acquisition in the Melbourne industrial suburb in the past month.—The Australian.