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Commercial real estate

Yesterday

Mecca’s flagship store in Melbourne

Melbourne’s Mecca superstore developer chases more cash

The property fund refurbishing the former David Jones site has been forced to ask for more money, at a significant discount, as it struggles to stay afloat.

This Month

Elanor Investors spent $10 million refurbishing Cradle Mountain Lodge.

Fund manager Elanor’s long road ends in $125m rescue plan

ASX-listed Elanor Investors is suspended, and it did not lodge its interim financial result. One of its biggest investors has a rescue plan, at a price.

Stockland’s planned $3.5b logistics facility in southern Sydney will also allow Bayside Council a new 14-hectare public park on the site of the former Kogarah Golf Club course

Stockland to build $3.5b logistics hub on Kogarah Golf Club site

The developer has a plan for the long-contested 18.3-hectare golf club site across the river from Sydney Airport.

Gate 8, at 88 Jolimont Street in Melbourne’s city-fringe suburb of Jolimont, is the newly built six-floor home of Harris Capital, the family office of Flight Centre co-founder Geoff Harris. 

Geoff Harris’ new $60m office gives 11 charities a home

The Flight Centre co-founder has developed an office building in East Melbourne that offers a floor of free space to charities his family supports.

Caringbah Marketplace

Aldi checks out of ‘ghost’ supermarket, empty for a decade

Supermarket chain Aldi is selling a derelict building in Sydney’s south which has sat empty for over 10 years. But the groceries giant hopes to return.

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Private equity real estate firm Wentworth Capital plays in last mile logistics, residential and life sciences.

JPMorgan exec ditches Wall Street for private equity

Josh Peel will join real estate investor Wentworth Capital as head of capital at the end of this month.

Cromwell has sold a 50pc stake in 475 Victoria Avenue, Chatswood

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.

The ATO is closely monitoring large developers, builders and hospitality operators after detecting numerous examples of potential GST tax fraud.

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.

Ashlie Hartigan who is organising the science labs at enGeneIC with scientists in Sydney

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 investment head Richard Seddon with Daibiru Corp’s Takashi Tomoda.

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.

Elliott Rusanow is sitting on a valuable stockpile of land in the right spots.

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.

A $10 billion battle for a piece of Australia’s property sector is brewing.

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.

Samuel Green has rejoined Goldman Sachs as a managing director.

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.

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MA Financial’s Brad Couper and Julian Biggins at d’Albora Marinas.

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.

A series of Bondi Beach shopfronts (pictured) are set to fetch about $80 million from a property fund manager.

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.

Adrian Redlich of Merricks Capital is managing redemption requests in his flagship fund.

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.

Investment manager Alceon and retail consultancy Aktiv have acquired The Strand Coolangatta, a four-level shopping centre on southern Gold Coast, for $142 million.

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.

UniLodge managed 38,000 beds across Australia and New Zealand.

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.

Original URL: https://www.afr.com/topic/commercial-real-estate-5vu