Weekly Transaction Update - 21st September

This week we recorded 19 major transactions worth close to $977M.

The largest deal we found was the sale of 50% of 1 Aviation Rd, Hoxton Park. This asset is held in a partnership between Mirvac and JP Morgan, however this week a transfer was registered at $170.5M (equal to Mirvac's current reported book value for 50%). Whilst unconfirmed we suspect this is related to either the transfer of the assets from Aviva Investors to JP Morgan following the deal that was announced back in late 2014 or a subsequent move of the asset within JP Morgan to a new client. Mirvac's valuation was reportedly based on a 5.2% cap rate. The 138,607sqm facility sits on 30ha of land with Woolworths and DB Schenker as major tenants.