Deals of the Week: 31 August 2018

Deals of the Week: 31 August 2018

National: After acquiring its rival Folkstones last week in a $205 million cash deal, real estate fund manager Charter Hall appears set to buy an interest in the $2 billion Caltex service station real estate portfolio. Charter Hall and Caltex are believed to be in advanced talks, and sources say that the property group is in the front seat to acquire the assets. Charter Hall is also now thought to be eager to secure a 49 per cent stake in the Healthscope hospital real estate portfolio as well.—The Australian.

Sydney: The launch of 32 strata commercial suites at Mirvac’s St Leonards Square mixed-use development on the weekend saw some 85 per cent sold within hours of their release. Strata suites ranged from 57 square metres to 210 square metres with an average $9,500 per square metre achieved on the day. The highest price paid among the 27 sales was in excess of $1.8 million.—Property Observer.

Sydney: ASX-listed GPT Group has scooped up a 19-level office tower in Parramatta for $277.6 million as low vacancy rates and growing demand for A-grade office space continues in the city. The purchase price reflects a 5.34 per cent yield for the Eclipse tower located at 60 Station Street.—The Urban Developer.

Sydney: Funds manager AMP Capital has tightened its grip on the Sydney precinct surrounding Wynyard station, buying half stakes in two buildings in Carrington Street worth about $500 million in their entirety. The buildings sit near the $2 billion Wynyard Place development. The half stakes are being sold by global real estate company Brookfield, which is driving the overhaul of the area.—The Australian.

Sydney: Melbourne-based developer Golden Age Group has secured construction finance from one of Australia’s largest super funds to back its $400 million Park One development in Sydney’s Macquarie Park. The developer has partnered with debt investment manager MaxCap to finance the 20-storey mixed-use project on Waterloo Road opposite the Macquarie Shopping Centre. Golden Age acquired the site for $101 million in 2016 as part of its push into the Sydney residential market.—The Urban Developer.