Weekly Transaction Update - 20th July


This week we recorded 26 major transactions worth $999m.

Mirvac's sale of 50% of 80 Ann Street for $418M was the largest of the deals announced this week. M&G Real Estate, a global asset manager with $30Bn of FUM, acquired the interest on a yield of 5%. Mirvac recently secured Suncorp as the key tenant in the 60,000sqm building and M&G will provide funding through the construction period on a usual fund through basis.

This week we also recorded the sale of Kusu Investments 52 Phillip Street. The sale was actually made in July 2017, but only just settled this week. In an off market transaction to an unknown buyer for $70M, the 14 storey B Grade asset contains 4,469sqm of which 1900sqm is currently being offered for lease. Kusu Investments acquired the asset in 2000 for just $14.5M.

Also announced this week was the purchase by the Charter Hall Long WALE REIT and the Charter Hall Direct Property Fund of 50% each of 40 Tank Street Brisbane for a total price of $93M. The vendor, a JV between Ariadne and Kevin Seymour announced the sale, having paid $56.1M for 100% of the asset just over 12 months ago. At that time the building was 80% leased with Ariadne holding a long term lease over the car park. The asset is now fully leased and sold with a reported yield of 5.8%.

Scroll through the list below or head to ReDataSource for further details.

* indicates unconfirmed price or apportionment of a portfolio sale

#ReDataSource

Capital Management Australia

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SYDNEY   NSW   1225

Tel: +61 412 173 476

Email: warwick@cmaust.com

ABN: 32 610 910 819

AFSL: 493605

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