Stakes in two major malls, in Perth and Brisbane, worth around $1.5 billion in total, are close to changing hands as institutional investors turn their interest toward retail real estate amid tighter yields in logistics and office assets.
The Perth mall is controlled by ASX-listed Vicinity Centres, which manages it on behalf of a mandate client and Vicinity Retail Partnership andSeparate transactions are also looming for stakes in the $1.2 billion Indooroopilly shopping centre in Brisbane. Two separate shortlists have been drawn up for a 25 per cent interest held through a fund controlled by Dexus, and for a 50 per cent position, held by the Commonwealth Superannuation Corporation.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: