UBS, Grocon to pursue $10bn JV
A new joint venture deal will see the formation of a $10 billion property platform, according to The Australian Financial Review.The five-year agreement between investment bank UBS and the nation’s...
View ArticlePE action is in distressed Australian assets
The foreign private-equity big game hunters of Australian assets are increasingly distressed-debt investors with a loan-to-own strategy, such as Oaktree Capital Management LLC, rather than better known...
View ArticleIBA creates $70 million indigenous REIT
Indigenous Business Australia (IBA) has created a $70 million Indigenous Real Estate Investment Trust that it hopes will double in size in three years as Aboriginal and Torres Strait Island communities...
View ArticleMore than high dollar to blame for Holden exit: Stevens
AAP, with a staff reporterReserve Bank governor Glenn Stevens has bought into the debate raging about Holden's decision to cease manufacturing in Australia, saying the car industry's challenges are not...
View ArticleCBA speeds property fund exit
The Commonwealth Bank of Australia's exit from its $20 billion property funds empire is picking up pace after it struck a management rights deal late on Friday with the leading suitor for the...
View ArticleNon-banks lift lending: report
Non-bank home loan groups are claiming market share from Australian banks as the mortgage sector continues to gather momentum, according to The Australian Financial Review.The report points to figures...
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Sydney's inevitable house price decline
Business SpectatorEconomyCallam PickeringThe recent pick-up in Sydney house prices is a product of investor speculation, though investors continue to support activity in a number of other states....
View ArticleREA Group CEO Ellis resigns
By a staff reporterReal estate classified service REA Group Ltd's chief executive officer Greg Ellis has resigned to pursue an opportunity outside the company.In a statement to the Australian...
View ArticleMerrill mulls adding to real estate team
Bank of America Merrill Lynch may beef up its real estate investment banking team in an effort to boost its resources.The bank is working for GPT Group on its $3 billion takeover bid of Commonwealth...
View ArticleGDI Property Group drops 11.5% on debut
Australia’s largest real estate IPO of the year, the $567.6 million float of GDI Property Group, has fallen on its debut, bucking a broader market rise. GDI fell 11.5 per cent to 88.5 cents, against a...
View ArticleList of IPO debut flops grows
In a market awash with IPOS the list of debut flops is getting longer, with the latest newcomers Pact Group and GDI Property Group dropping more than 10 per cent on ASX listing today. The lacklustre...
View ArticleCBA nears $550m CFS deal
The CFS Retail Property Trust Group is poised to unveil its long-awaited deal to spin off from the Commonwealth Bank of Australia and forge a path as the owner of $8.7 billion of Australia's shopping...
View ArticleCFS, CBA ink $460m deal
By a staff reporterCFS Retail Property Trust Group will pay $460 million to the Commonwealth Bank of Australia to acquire its integrated retail asset management business.In a statement to the...
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Vancouver's home truths for Australia's China connection
EconomyChinaPeter CaiVancouver is about 14,000 kilometres from Beijing, separated by the vast emptiness of the Pacific Ocean. However, the health of Vancouver’s housing market is closely correlated...
View ArticleCBA backs Dexus fund bid
By a staff reporterCommonwealth Bank of Australia intends to accept a Dexus Property Group-led consortium's takeover bid for its Commonwealth Property Office Fund, spurning a rival offer from GPT...
View ArticleWestfield needs to lift WRT value
The Commonwealth Bank of Australia's proposed spin-off of the CFS Retail Property Trust has won strong market support -- a contrast to the chilly market reception towards Westfield Group's plans to...
View ArticleProperty market steadies REA
Bottom feeders will be disappointed if they were expecting the rout in REA Group shares to continue.The company's stock steadied yesterday, closing up 32 cents at $36.32 after being smashed earlier...
View ArticleMirvac offloads shopping centres for $100m
By a staff reporterMirvac Group Ltd has sold two regional malls in New South Wales and Victoria for $100 million and acquired new commercial and residential assets in Victoria and Western Australia.In...
View ArticleBringing homeowners the bacon
IndustriesPropertyRob BurgessJust when you think you’ve hit upon something new and exciting, along comes a savvy business that thought of it first. How annoying.So it was when, after raising the issue...
View ArticleCPA rejects GPT takeover bid
By a staff reporterCommonwealth Property Office Fund Ltd (CPA) has rejected a takeover bid from GPT Group Ltd in favour of a rival bid from Dexus Property Group Ltd and Canada Pension Plan Investment...
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