Deals of the Week: 25 May 2018

Deals of the Week: 25 May 2018

Melbourne: Property fund manager Charter Hall has inked a deal with Woolworths for the creation of a $100 million-plus produce facility in the Melbourne industrial suburb of Laverton. The deal will allow the grocery giant to create a 32,600sq m distribution centre featuring state-of-the-art refrigeration for its fresh produce and provide additional capacity to support Woolworths’ growing business in Victoria. The Urban Developer.

Sydney: Private equity and property giant Blackstone is poised to double its money on an investment in Sydney’s Top Ryde City Shopping Centre by putting the site on the block for $700 million, just over five years after taking over the asset. The group took control of the once-troubled centre in late 2012, buying the debt in a $341m play with receivers McGrath­Nicol, and then embarked on a dramatic revival project. The Australian.

Central Queensland: ASX-listed Rural Funds Group has extended its push into the beef sector after acquiring Comanche, a 7600-hectare breeding and backgrounding property near Rockhampton in central Queensland for $15.7 million. The diversified property trust, with a market cap now in excess of $500 million, acquired Comanche from Geoff and Dalrae Shaw at auction last week. It includes nine kilometres of Fitzroy River frontage and comes with an 864-megalitre water allocation plus extensive cattle infrastructure. The Australian Financial Review.

Brisbane: US group Blackstone has finalised a deal to sell a Brisbane office tower to Singaporean funds manager Firmus Capital for close to $130 million. Firmus has sealed a deal to buy 127 Creek Street in what will be its first local purchase. The firm has a strong pedigree in the local market via the Rockworth Capital Partners platform. The Australian.

Auckland: Goodman, along with its co-investor Singapore’s GIC, has sold a portfolio of office properties in Auckland to Blackstone for $635 million as it focuses on industrial assets in New Zealand. The Australian Financial Review.