EG Funds Management is selling the Gold Coast's Circle on Cavill retail centre that it bought from the receivers for failed property developer Octaviar, formerly MFS.
EG, which likes to both buy where new infrastructure is being built as well as turn around ageing assets, purchased the property adjoining the new light rail station in 2011 for $40 million and has spent more than $13 million in extensive upgrades and tenant fitout works since.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter.
