Macquarie’s real estate arm is back in prime position to take over the ASX-listed Vitalharvest Freehold Trust after raising its binding offer to $1.08 per unit – or just under $200 million – from a previous $1 per unit made in November.

The higher offer matches a non-binding and as-yet unfunded offer from Sydney-based private equity firm Roc Partners made in late February that lifted Vitalharvest’s share price to $1.075¢ and created a two-way tussle for the Primewest-managed trust, which owns a $300 million portfolio of citrus and berry orchards leased to ASX-listed fruit and veg giant Costa Group,