Weekly Transaction Update – 14th September

14 September 2018

This week we recorded 27 major transactions worth close to $491.3M. Lend Leases’ Australian Prime Property Industrial fund announced this week, the acquisition of 3 industrial assets for a total of $86.9M. The three assets are; three industrial lots under construction in Westside Industrial Estate Truganina, 28 Percival Rd Smithfield, leased to DGL (Australia) for a seven-year term, and 21 Marshall Court Altona, leased to two logistics operators. Also this week Singapore group Soilbuild has settled its first two transactions in Australia acquiring an office building known as Australia Place, at 14 Mort Street, Canberra for $55m, and in SA, a poultry processing plant in Burton for $61.25m. The Soilbuild REIT was established to invest on a long-term basis, directly or indirectly, in a portfolio of income-producing real estate used primarily for business space purposes in Singapore and Australia. The two properties will yield a 6.4% return to Soilbuild. Also appearing in the records this week is a residential acquisition in Gladesville. The 1,391sqm site at 120 Victoria Rd was originally marketed in August 2014 and sold to developer DMG who proceeded to develop 46 apartments on the site. Now that the project is complete, we noticed this week the single transfer of 39 apartments to Apartment Holdings P/L, an entity we believe is associated with Masu Property Investment Services for $40m, ie just over $1M each. The majority of these apartments are now for lease at around $650/pw on average, which if fully leased all year would provide a gross yield of 3.3%. Not really sure what the investment case is for this acquisition? Scroll through the list below or head to ReDataSource for further details. * indicates unconfirmed price or apportionment of a portfolio sale #ReDataSource