Yesterday
In their own words: what investment bankers say about real estate
The Financial Review’s annual roundtable of top property bankers. This is what they say about interest rates, hot picks, and where the action will be in 2025.
- Nick Lenaghan
This Month
- Exclusive
- Victoria residential property
Alex Waislitz and Tim Gurner feud over luxury St Kilda tower
The wealthy businessmen are at loggerheads over problems at the Saint Moritz development. Mr Waislitz says Mr Gurner is trying to silence residents.
- Primrose Riordan and Sarah Thompson
- Exclusive
- Commercial Real Estate
They built a $180m office but struggling to get tenants
The vacancies in towers built on the back of private credit come amid difficult times for developers, more of which are falling into administration.
- Primrose Riordan and Campbell Kwan
Sydney’s financial power base to expand towards Circular Quay
BlackRock’s arrival, alongside a string of high-powered law firms, signals the revival of the AMP building. But there’s plenty of life left in the stalwarts.
- Campbell Kwan
- Exclusive
- NSW residential property
MaxCap warns of real estate fund return slump and asset fire sales
The private credit firm has told investors that an “extended period of high market volatility” had hurt the viability of some of its real estate investments.
- Updated
- Primrose Riordan
- Exclusive
- Rich List
The secretive Saunders family is going all in on lending to the rich
The late John Saunders founded Westfield with Frank Lowy. The family investment vehicle sees plenty of opportunities in helping the cash-strapped wealthy.
- Primrose Riordan
December 2024
Gerry Harvey reveals his biggest problem with property development
The retail billionaire and sideline property investor says costs will keep rising, and that’s bad for projects – as well as for the people who work on them.
- Updated
- Michael Bleby and Primrose Riordan
Investor letters reveal private credit exposure to collapsed developer
APH Holding fell into administration last week, owing several lenders significant sums. Correspondence shows how short one lender, MaxCap, is on a project.
- Primrose Riordan
Major developer APH collapses, sending ripples through private credit
The Melbourne company had already put many of its projects on the market. Its biggest lender, MaxCap, says it expects to be repaid in full.
- Primrose Riordan
Macquarie buys into private credit provider IDA
The investment bank is tapping the demand for development funding in Australia’s chronically undersupplied housing market.
- Michael Bleby
- Opinion
- Chanticleer
The $330b fund busting big super’s ‘buy and hold’ myth
Australian Retirement Trust’s real assets arm has been the biggest driver of infrastructure and utilities deals in Australia and New Zealand this year.
- Anthony Macdonald
- Opinion
- Chanticleer
There’s a private credit boom, but Australian pioneers keep selling out
The sale of Wingate to CapitaLand marks the third big buyout of a private credit shop this year. Are founders picking the top of the market or is it a play for bigger growth?
- James Thomson
- Updated
- Credit rating
Singapore’s CapitaLand nails $200m Wingate deal
CapitaLand confirmed its intended acquisition of Wingate for $200 million as the Asian real estate manager expands into private credit.
- Primrose Riordan
The mystery twist in Adgemis’ fight with Gazal
A long list of Sydneysiders and Melburnians would be keen for the details of the stoush.
- Max Mason and Primrose Riordan
- Exclusive
- Build-to-rent
New tax laws no silver bullet for build-to-rent, NAB warns
Last week’s legislation halving the tax rate for foreign investors is a good start, but rival Macquarie agrees other factors also drag on projects.
- Michael Bleby
- Exclusive
- Investing
‘It’s a bit of a golden age of private credit’
Fund manager Nuveen, which has done a $400 million deal with Singapore’s sovereign wealth fund, says high returns are possible – and the risks aren’t bad, either.
- Michael Bleby
November 2024
Doing it his way: How David Harrison built an $80b funds empire
In his two decades at the top, the Charter Hall chief executive has transformed the property funds group into a giant of the industry.
- Robert Harley
Singapore’s CapitaLand in talks to acquire $8bn Wingate Group
After 20 years in operation, Melbourne-based investment manager and real estate financier Wingate Group is set to change hands.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Exclusive
- Commercial real estate
Commonwealth Bank takes control of Jon Adgemis’ yacht
The boat was built in 1974 in Italy and was advertised for sale in 2010 with a price tag of $2.85 million.
- Primrose Riordan and Sarah Thompson
- Exclusive
- Courts
ATO cut a deal with developer accused of fraud. But the money vanished
Property developer Nahi Gazal and his companies struck a deal with the Tax Office to pay millions in bills and penalties. When the ATO went to get the money, it was gone.
- Max Mason