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Weekly Transaction Update - 26th May


Just over $1.0B of assets changed hands this week with 6 deals in excess of $100M each.

The most notable deal was the sale by Dexus of 105 Philip Street, Parramatta. Charter Hall won the race to buy this asset on completion at a price of $229M. The transaction reflects a yield of 5.3% which sets a new benchmark for Parramatta. The 25,000sqm building will be leased by the NSW Government for 12 years.

Also this week Blackstone found a buyer for their O'Riordan Street property in Mascot, selling to Fort Street Real Estate on a yield of 6.5%. Charter Hall are active again this week with reports that they are likely to be acquiring the CCA property in Richlands QLD for $165M.

AFIAA have also found a buyer for 512 Wickham Street Fortitude Valley which they acquired in 2010 for $95M on a 7.5% yield. M&G Real Estate appear to be the front runners on this asset at $120M which (based on a 3% rental growth rate from 2010) implies a 7.3% yield.

Some big money is also chasing secondary assets with car parks and Hotels also featuring in this weeks list.

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