Today
Blackstone says Crown overhauling the ‘fun stuff’ after licence return
The private equity giant says it is investing in the casino’s hotels and restaurants after repairing governance and money-laundering risk issues.
Yesterday
Investors in marathon auction for $18m Sydney servo
A 7-Eleven petrol station with a McDonald’s outlet in western Sydney sold for $3 million above reserve after a bidding session that ran for more than an hour.
Luxury retreats boom as cashed-up tourists pay for the vibe
Small, remote and expensive luxury lodges are in demand amid rising numbers of affluent travellers on the hunt for unique experiences.
Scape buys Aveo for $3.85b in biggest direct real estate deal
The deal value smashed that of the next-largest direct real estate deal: Blackstone’s 2021 sale of Milestone Logistics to global firm ESR for $3.8b.
This Month
Star Group on a roll with $24m Qld pub deal
One of Queensland’s biggest privately owned hospitality players, Star Hotels, has snapped up a $24 million Rockhampton pub.
Sydney’s architecture ambitions on show as face of the city changes
The integration of office space with the new underground rail line creates a national template for the way Australian cities can work.
A retirement village inside a uni? This operator is planning one
As Australia ages, there’s plenty of institutional money looking to play the long game in aged living. Aware Super-backed operator Keyton has big plans.
Sydney’s Bathla juggles dozens of property projects and a $2.7b debt
The major real estate developer, once known as Universal Property, has borrowed from the country’s biggest private credit firms, and owes one $600 million.
Pub baron Jim Knox to sell $50m Riverina hotel
The regional pub baron is looking to sell The Gem Hotel in Griffith. Its hefty price tag could put it among the most expensive country pubs sold to date.
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The Summit uncovers the prospects for the property sector’s traditional asset types – offices, retail spaces and warehouses, and explores the appeal in fast-growing alternatives such as data centres, rental housing, and healthcare facilities.
Overseas investors pile into ‘safe haven’ GemLife’s $750m IPO
The land lease operator’s initial share sale taps the need for affordable housing for downsizers and the demand of investors to buy into Australian housing.
Lowy family goes shopping for Melbourne mall in $440m deal
A fund manager, backed by the Lowy family, has bought its first major shopping mall. It’s also a return to the sector for Westfield co-founder Sir Frank Lowy.
Cbus Property steps up as white knight for Sydney’s ‘Halo’ tower
The Sydney CBD site hosts an ambitious proposal for a 55-storey hybrid timber tower. But the plan brought with it considerable financial obligations.
Pro-invest, Kajima plan $1.5b build-to-rent portfolio
Japanese investment in the Australian housing story is deepening, with the latest partnership aiming to supply a much-needed mid-market rental product.
Kilter Rural puts Oomabah Riverina site up for sale with $60m hopes
After a year-long process to assemble the 7210-hectare property, the fund manager is offering it for sale with further scope for water-related investment.
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Victoria claims a land advantage in the data centre race
Even as states try to balance the needs of computing with other purposes, they see a big prize in hosting artificial intelligence-supporting infrastructure.
Moelis and Johns Lyng’s CEO met at The Beach Hotel
Scott Didier was negotiating an off-market deal with Moelis, while also talking to PEP about taking over the ASX-listed builder.
HESTA’s big plan to invest in European student beds, self-storage
Big super funds have long had positions in real estate including offshore, but the pressure to go global is increasing as they outgrow opportunities at home.
Cinema giant flags part-sale of Sydney’s George Street complex
Some of the real estate behind the popular complex is on the market, with the owner wanting to invest the proceeds into its hotels arm instead.
Singapore’s CapitaLand aims high with $20b funds target in Australia
The Singaporean giant has brought on board two former investment bankers to steer its plans to turbocharge property business in Australia.
Global property giant CBRE buys Burgess Rawson
The real estate firm has bought out local commercial agency Burgess Rawson’s east coast business, and will tap into its network of high-net-worth investors.
Fund managers going bush for 8pc returns in property
The purchase of a regional Victorian retail centre comes as fund managers chase yield for their investors. But analysts say they need to know their market.