Jun 07 2017Add to Favorites
Carolyn Cummins, The Sydney Morning Herald
Propertylink has sold its 320 Pitt Street, Sydney, assets for $275 million, which has helped to bump office sales across the country over the $14 billion level as investors take advantage of the favourable leasing conditions.
According to CBRE's head of research Stephen McNab, in the 12 months to the end of the first quarter, across national office, industrial and retail markets, sales totalled $28.2 billion.
SOURCE: The Sydney Morning Herald
Home loan approvals have fallen significantly off the back of the APRA and the Royal Commission initiatives together with new Responsible Lending Criteria. The ABS recently reported that home loan approvals have fallen by 13.6% year on year and within that, investment loans have come back by c.20%
Off the back of successfully settling a $48m syndicated first mortgage for a residential apartment development in Sans Souci just weeks ago, Sydney-based real estate investment manager Centennial Property Group (CPG) opened a new fund with a focus on the industrial and logistics market, Centennial Industrial and Logistics Fund II (CIL II). The fund, available only to wholesale and private high net worth investors, opened on 1 November and was seeking to raise c. $38 million. CPG closed the fund less than two weeks later, well before the official close date, due to oversubscription.
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