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Commercial real estate

Today

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.

Yesterday

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.

This Month

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.

CapitaLand’s Australian business chief executive Angelo Scasserra with chief investment officer Rahul Bharara.

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.

Lendlease chief executive Tony Lombardo has to show institutional investors to keep invested in his company’s pooled funds.

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.

The leasehold interest of the Newtown Hotel has been purchased.

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.

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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.

Mercure Clear Mountain has been acquired for $7 million.

Mandala Hotels adds Brisbane hinterland resort to $250m portfolio

Regional hotel provider Mandala Hotels and Resorts has acquired a Brisbane hinterland resort with renovation plans that will nearly double its room rates.

A consortium comprising southern African billionaire Nathan Kirsh and New York-listed Public Storage has raised its offer for Abacus Storage King.

Abacus Storage King opens its books after $2.17b takeover offer

A consortium led by southern African billionaire Nathan Kirsh has increased a bid first lobbed in April, and will have six weeks to conduct due diligence.

Race for space spurs CBD office rebound

Green shoots are emerging most strongly in Sydney, where demand increased rents in the best buildings by 9.1 per cent in the past financial year.

There’s little evidence to suggest workers and bosses are seeing eye to eye on WFH.

WFH Mondays and half-empty offices are OK for office investors

Blind Freddy can see there are fewer people in offices. But, how does work from home impact property demand? This economist has an interesting takeaway.

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