In one of the biggest office tower deals mooted so far this year, US giant Hines is in talks to buy a North Sydney building for around $600 million, as its owner Dexus consolidates its holdings into the central core of Sydney’s CBD.
If completed as expected, the sale of 100 Mount Street will be struck at around a 25 per cent discount to the $800 million valuation ascribed to it after the 35-storey tower was completed in 2019.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
Campbell Kwan covers commercial and residential real estate for The Australian Financial Review, based in the Sydney newsroom. He was previously the breaking news reporter. Email Campbell at campbell.kwan@afr.com
