Deals of the Week: 19 October 2018

Deals of the Week: 19 October 2018

National: Charter Hall Long WALE REIT has stepped up its pace on the transaction trail, with investments into office and industrial assets in Sydney and Perth worth a combined $117.8 million. The ASX-listed real estate investment trust, part of the stable of funds run by listed fund manager Charter Hall, will back its buying with a $60 million placement underwritten by UBS.—AFR.

East Coast: Centuria Capital’s property platform is acquiring the $645 million Hines Global REIT portfolio of four office towers in Sydney, Melbourne and Brisbane. The platform’s listed suburban office property fund, the Centuria Metropolitan REIT, is buying three of the assets. The metro office fund will also take a 25 per cent stake in the building at 465 Victoria Avenue in Chatswood. The metro fund’s investment will total some $501 million, which it will fund in part through a $276 million raising.—AFR.

NSW: The Moelis-managed Redcape Hotel Group has beefed up its regional NSW pub portfolio ahead of a $1 billion-plus float by striking a $50 million deal to buy three pubs in Wollongong from private consortium Denfish Hotels. The triple deal includes the Central Hotel in Shellharbour, The Figtree Hotel, Figtree, and the Unanderra Hotel.—AFR.

Sydney: A high-net worth Sydney-based investor has purchased Lidcombe Centre in the city’s west for $145 million from a wholesale fund managed by Vicinity Centres. The deal, struck on a fully leased yield of 6.49 per cent, is separate from Vicinity’s plan to divest as much as $1 billion in sub-regional and neighbourhood shopping centres from its balance sheet, which it announced in June.—AFR..

Melbourne: A historic Abbotsford warehouse has been snapped up by a mainland Chinese buyer for $37.28 million on a 5 per cent yield, amid an increase of sales to offshore investors. The 8,000sq m warehouse on Grosvenor Street with frontage to the Yarra River, with a long-term lease to Australia Post, was listed in late August with price expectations of $35 million.—The Urban Developer.