The Raptis Group have sold Inala Plaza this week to Chin Hong Investment Corporation for $56M on a reported yield of 6.5% to 7%. The 16,500sqm Centre which now houses a Woolworths, Aldi and 73 specialty stores was acquired by the Raptis Group in 2013 for just $32.35M with passing yield of 11.5%. At that time, Coles had recently advised that they intended to vacate the centre and the then vendor, 360 Capital Group held the asset in a closed ended vehicle with no prospects of extending the term of the trust to replace the Coles anchor. The Raptis Group stepped in, acquired the site and replaced Coles with Aldi and two specialty stores. The latest transaction was brokered by CBRE’s Joe Tynan and Michael Hedger. Location Plan: #Retail
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