Deals of the Week: 21 July 2017

Deals of the Week: 21 July 2017

21 July 2017

NATIONAL: The Costa family has placed $300 million worth of berry and citrus farms on the market. The portfolio includes blueberry and raspberry farms on the east coast of Australia from northern New South Wales to northern Tasmania, and citrus orchards in the Riverland in South Australia. The farms are currently leased to the ASX-listed Costa Group, Australia’s largest producer of fresh fruit and vegetables, an arrangement that will continue.—ABC News.

NATIONAL: Prince Hotels, a subsidiary of Japanese investment giant Seibu Holdings, has bought Australian-based Staywell Hospitality Group in the largest hotel merger and acquisition seen in Australia this year. The $50 million deal has added 30 hotels to the Prince Hotels portfolio, including 12 in Australia under the Park Regis and Leisure Inn brands.—The Urban Developer.

SYDNEY: The New South Wales government has stumped up $35 million to fund a massive new startup hub in downtown Sydney. The 11 floor Sydney Startup Hub will cover 17,000 square metres—roughly the size of the Sydney Cricket Ground—at 11-31 York Street. The facility is scheduled to open November this year.—Business Insider.

SYDNEY: Fortius Funds Management has purchased an office tower in Sydney’s Goulburn Street complex from Singaporean developer Roxy-Pacific Holdings in a $158 million deal. The 23-level office tower sits opposite the World Square precinct and carries approval for redevelopment into a 38-storey tower with 407 hotel suites and 90 residential units as well as associated retail and office spaces.—The Australian.

SYDNEY: Goodman Group will develop a new $100 million industrial estate at the Enfield Intermodal in Sydney for NSW Ports. The new estate will be developed across 30 hectares of prime industrial-zoned land within the 60-hectare Enfield Intermodal Logistics Centre, the largest hub of its kind in NSW. Goodman is marketing the site for pre-lease development ranging from 2,000 square metres to 70,000 square metres, capable of delivery in 2018.—The Australian Financial Review.