Mirvac offloads $400m of assets

Property developer and manager Mirvac Group said it has sold $405 million in assets so far this financial year, in line with its target to improve the quality of its investment portfolio following a string of acquisitions and disposals over the last 24 months. 

The company said contracts have been exchanged for three office assets and one retail asset for a combined valued of about $293m.

Settlement for all of the assets is expected by the end of the fiscal year on June 30.