Vicinity Centres has struck a $1.1 billion asset swap deal with Singapore's GIC to help the country's second-largest owner of local malls Amazon-proof its portfolio.
The deal takes in three of Sydney's most prized and best-known inner-city retail destinations: the Queen Victoria Building, The Galeries and The Strand Arcade, along with the sprawling Chatswood Chase on Sydney's North Shore.
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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.
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
