Deals of the Week: 28 September 2018

Deals of the Week: 28 September 2018

East Coast: Altis Property Partners has offloaded $282.4 million worth of major retail assets across Queensland and New South Wales. The portfolio sell-down includes Homemaker The Valley in Brisbane’s Fortitude Valley, to Arkadia Capital for $170 million, and the Homemaker Greenway and Greenway Plaza in Sydney, to Aventus Property Group for $112.4 million.—The Urban Developer.

Sunshine Coast: Abacus Property Group has sold the Novotel Twin Waters for $88.5 million to Melbourne-based asset trader Shakespeare Property Group. The four-star, 361-guest room resort is located on Queensland’s Sunshine Coast. The hotel is the Abacus’s last remaining asset after unit holders voted for a sell-down of assets three years ago.—The Urban Developer.

Sydney: The ShopSmart Outlet Centre in Mt Druitt, western Sydney, has changed hands for almost $25 million. The site is believed to have been sold to Spotlight. The 9,990 square metre complex was bought off Stockland for $14.5 million in 2005..—Realcommercial.

Sydney: Private Hong Kong based family fund Longbow Enterprises has purchased an A-grade office tower in Sydney for about $120 million on a yield of less than 4.5 per cent. The deal for 400 Kent Street gives its vendor Credit Suisse Asset Management a strong return after picking up the 11-storey tower for $58 million in 2014 from two Charter Hall funds.—AFR.

Melbourne: The country’s largest landlord, Dexus, is set to develop a $650 million office building at the prized top end of Melbourne’s Collins Street after purchasing 60 Collins Street for $160 million from the Reserve Bank of Australia and a smaller building next door at 52 Collins Street for $70 million from a private owner.—AFR.