Deals of the Week: 21 September 2018

Deals of the Week: 21 September 2018

National: Macquarie Group has announced a major deal to buy Qatar Investment Authority’s Hassad Australia farm portfolio for about $300 million. The purchase is the biggest farmland deal in Australia since the sale of S. Kidman & Co in 2016 to Gina Rinehart, and will include a reinvestment in one of Macquarie’s agricultural funds by the Qatar Investment Authority.—AFR.

East Coast: The Lendlease-managedAustralian Prime Property Fund Industrial has bulked up its portfolio with a run of acquisitions across New South Wales and Victoria in recent weeks totalling $125 million. The company has struck contracts on three industrial properties: at Smithfield in NSW and at Altona and Truganina in Victoria, worth a combined total of $86.9 million. In February the fund purchased an industrial property in Altona North, Victoria, for $38.15 million.—AFR.

East Coast: Altis Property Partners has sold out of $282.4 million worth of homemaker centres on behalf of First State Super at yield in the mid-7 per cent range reflecting a softening in this sub sector of the retail property market. Financial Review Rich Lister Theo Karedis, snapped up the Homemaker centre in Brisbane’s Fortitude Valley, for $170 million,. The Homemaker Greenway and Greenway Plaza in NSW was acquired by billionaire Brett Blundy’s Aventus Property Group for $112.4 million.—AFR.

Sydney: Fund manager iProsperity has sold the Park Regis Hotel in Sydney to Taiwan’s Yeh family for $54.18 million. iProsperity purchased the 122-room hotel in the Sydney CBD two years ago for $46 million from hotel operator Staywell Hospitality Group, with the sale to Yeh Group representing a 23 per cent capital gain.—The Australian.

Melbourne: The Reserve Bank of Australia has sold its Melbourne headquarters at the top of Collins Street and at the top of the market in a $160 million deal with the country’s largest listed landlord, Dexus. It is a tidy return for the RBA, far exceeding initial expectations of $100 million for the 15-storey building at 60 Collins Street, which hit the market through the JLL agency in June.—AFR.