This week we recorded 7 major transactions worth $356.8M. The largest deal this week was an acquisition by GPT of the Flinders Street Car par owned by Dexus. GPT acquired the current asset for $90M on a 2% yield for the benefit of the development approval which permits two towers to be developed -a 47 level building on Flinders Street and a 14 level building on Flinders Lane. Both towers are approved for residential uses, however GPT will likely re-apply for commercial uses. Also this week, ISPT acquired an industrial facility in Greystanes, Sydney from Boral for $60M. The 13 hectare property is used for brickmaking and Boral entered into a 2 year lease back arrangement, allowing ISPT to work on a redevelopment plan for the site which is well located amongst Sydney’s growing western industrial market. And, Abacus sold two assets this week, a retail Centre in Bacchus Marsh for a yield of 7.6% and an industrial facility in Derrimt on a yield of 6.8%. According to Abacus, the retail centre has an occupancy of 88% with some 68 retailer hanging off a Coles, Aldi and a Target Country store. The Centre was acquired by a private investor for $61M. The Industrial facility was sold to Ascendas REIT for $34M. Scroll through the list below or head to RE-Intel for further details. * indicates unconfirmed price or apportionment of a portfolio sale
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