This week recorded 12 significant transactions across the market with almost $1.2B of deals changing hands over the Christmas / New year period.
The largest deal announced this week is the acquisition of 33 Alfred Street, Sydney by AMP (balance sheet) to AMP Capital's flagship property funds (AWOF and ADPF) for $430M. This transaction paves the way for the redevelopment of the adjoining 50 Bridge Street as it unlocks a range of site constraints and more importantly includes a pre-commitment by AMP to space in the new 50 Bridge Street. The related party issues in this deal were significant - so well done to all involved.
Two other significant transactions were also completed over this period including ADIA' sale of the 15 asset IBIS Hotel portfolio to Accord for $200M and the sale of the Ballieau family farm near Berwick for $175M to Stockland.