Today
Cromwell Property sells Sydney office stake to exit $87m debt
Co-owner BlackRock has acquired the group’s stake in an A-grade Chatswood complex to now gain full control of the asset.
Developers, hospitality operators in firing line over GST fraud
The ATO has sounded a warning after identifying a surge in potential GST tax fraud, with refund claims worth over tens of millions of dollars in some cases.
Yesterday
Why clinical labs are hot property for asset managers
Wentworth Capital is eyeing a further $600 million in life science property investments with BlackRock.
Mirvac says Melbourne office market is stabilising
The Victorian capital will get just three new office towers between now and 2030. The landlord and investor says that will drive tenants to its new building.
This $2.5b shopping mall deal could help solve the housing crisis
By selling a stake in one of its Brisbane malls, Westfield owner Scentre Group can create growth options from its 650 hectare land bank. One problem stands out.
This Month
Hostplus’ $10b property bomb is a warning for all Australian investors
Lendlease and Mirvac’s battle for three funds is about more than $10.5 billion in assets. It’s about who gets to invest the whopper retirement savings pool.
Luxury developer behind Sirius rebuild collapses with unpaid millions
It is the latest among at least four companies run by former Macquarie banker Jean-Dominique Huynh that has collapsed or gone into receivership in 12 months.
Aware Super’s $1b plan for serviced apartments in Europe
The fund has taken majority control of an “aparthotel” operator, continuing a push into global real estate.
Goldman Sachs adds MD to real estate ranks
Samuel Green will rejoin the Wall Street bank, based in Sydney, as a managing director after an eight-year interlude.
Too many boats, not enough berths. Why marinas are hot property
Yachting might be a luxury for some, but marinas are proving a defensive investment for others as demand for berths outstrips supply.
Developer eyes $80m Bondi site for luxury apartments
A series of shopfronts banded together to become Bondi Beach’s largest development site, selling for $80 million.
Another week, another moment of reckoning for private credit funds
Three months ago, investors were cheering the stability of their investments amid a turbulent market. Now it’s clear that there’s a cost for that upside.
Alceon follows wealthy downsizers to Coolangatta with $142m retail buy
The investment manager plans to reposition the 32,000-square-metre shopping centre to match the southern Gold Coast’s changing demographic.
Student accommodation giant UniLodge on the block, UBS schools buyers
UBS has hit the ground running, reaching out to a handful of parties for the first round of the auction.
CapitaLand’s Wingate signs marquee hire from Goldman Sachs
Manas has been tasked with helping drive the Asian real estate manager’s foray into private credit, as it enters an accelerated growth phase.
Turnaround story for motels, hospitality’s Cinderella asset
The industry is booming off the back of a resurgence in domestic travel during the pandemic, with institutions and small investors pouring into the space.
Everyone wants to be a fund manager. But can they?
Lendlease boss Tony Lombardo must rescue a business he dearly wants to keep.
How to invest like a millionaire in commercial property – with $100k
As the investment shine comes off residential property, more people are turning to commercial real estate.
Lord Roberts and Newtown pub switch owners in unusual $20m deal
Universal has swapped the leasehold of one inner-city Sydney pub with publican Sue Cameron and acquired the freehold of another venue from her.
Forget uni hovels, students want a hotel-style ice bath and sauna
A $132 million high-end student housing development in Sydney is tapping global demand with yoga facilities and a rooftop infinity pool.