This week we recorded 11 major transactions worth $418M.
The largest deal was the acquisition by Jerry Schwartz of the Sheraton Four Seasons Hotel on Broadway, Chippendale. The Schwartz family paid $156M for the 4.5 star hotel when it completes in 2018. The hotel will contain 297 guest rooms. The Schwartz family are a big investor in the vendor, Impact Investments who held the put & call options over the Hotel and an Office building. Impact Investments will retain (for now) the Office component.
Another significant transaction this week, was the purchase by AMP Capital Wholesale Australian Property Fund of 185 O'Riordan Street, Mascot for $43M from Goodman. The 5,640sqm building is fully leased with an average lease expiry of 8 years. AMP Capital also secured a $100M option over the 2nd building which is yet to be completed.
There were a number of other deals this week. Scroll through the list below or head to Propel for further details.