Yesterday
Vibrant CBD retail sector outperforms floundering office towers
New research shows core retail precincts in most CBDs have much lower vacancy rates than their corresponding office markets.
- Larry Schlesinger
This Month
- Updated
- Earnings season
Building cost rises create horror year for Mirvac
One of the country’s largest property developers says profit margins on some big apartment projects have halved, pushing earnings significantly lower this year.
- Updated
- Nick Lenaghan
Developer cashes in as investors spend $38m on fast food
A vacant Bunnings purchased for $35m in 2020 and redeveloped into a homemaker centre with fast food outlets has generated $95m in total real estate sales.
- Larry Schlesinger
Sydney’s tallest tower to test battered office market
The Japanese property giant is seeking around $600 million for its 30 per cent stake, which would value the entire Salesforce Tower at $2 billion.
- Campbell Kwan and Nick Lenaghan
Federal buybacks in Murray-Darling Basin to stem fall in water prices
The Commonwealth’s plan to buy back 70 gigalitres of water entitlements in the southern Murray-Darling Basin has already lifted water prices in some markets.
- Larry Schlesinger
European property funds face redemption reckoning as $20b gets pulled
Europe’s fund managers face a dilemma: selling more attractive assets to meet redemptions leaves them overexposed to beaten-up segments of the market.
- Jack Sidders, Neil Callanan and Laura Malsch
What a cash rate hold means for REITs
Office landlords face further asset write-downs this earnings season, but there may be little pain after that as interest rates stabilise, says Barrenjoey.
- Campbell Kwan
X to close flagship San Francisco office
Elon Musk will move X to Texas, after California banned schools from requiring teachers to notify parents if children change their gender identification.
- Kate Conger and Ryan Mac
Ex-RBC banker launches real estate IM with Iris Energy deskmate
Street Talk understands co-founders Bom Shin and Kevin Ghazi have just come off an Asia roadshow and are actively looking at deals.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Centuria buys into Nvidia boom with office-friendly data play
It has acquired a half stake in data centre operator ResetData for $21 million, to repurpose its underperforming offices and jump on the AI bandwagon.
- Campbell Kwan
- Exclusive
- Pubs
Lenders tried to sell Jon Adgemis’ pubs to Justin Hemmes’ Merivale
Merivale was shown internal financial spreadsheets by one major lender, but ultimately decided against exploring a deal, sources said.
- Primrose Riordan and Sarah Thompson
Abu Dhabi fund flies into IFM consortium at AirTrunk’s $20b sale
The most recent numbers in front of bidders show AirTrunk has punched through $1 billion in contracted EBITDA.
- Sarah Thompson, Kanika Sood and Emma Rapaport
German chancellor lines up crisis talks with property titans
Germany’s real estate market is beset by the failure of major developers and a crash in investment and financing as real estate prices slump.
- Tom Sims, John O'Donnell and Matthias Inverardi
QIC property funds head quits
David Asplin, a 12-year veteran of the firm, has left just days after Michael O’Brien quit as the real estate division head.
- Aaron Weinman
DWS sells Brisbane CBD office for $24m less than it paid for it
The property fund manager’s acquisition of 120 Edward Street is yet another sign that office values have dropped at least 20 per cent due to WFH headwinds.
- Campbell Kwan
Mitsubishi partners with ESR on first Aussie logistics project
The Japanese property giant will add logistics to a local portfolio which includes investments in luxury apartments, build-to-rent and land lease estates.
- Larry Schlesinger
July
Record leasing, higher rents lift earnings at Centuria industrial fund
Centuria Industrial REIT leased more than 20pc of its portfolio over FY24 and generated average increases of 43 per cent as rents were reset to market rates.
- Larry Schlesinger
Rest, Barings to build $400m industrial estate by end of 2025
The site will provide much needed warehouse space in Sydney, which has the world’s second-lowest vacancy rate.
- Campbell Kwan
Scentre, Barrenjoey pin down another Adelaide shopping mall bargain
A month after they struck a deal at Tea Tree Plaza, Scentre Group and Barrenjoey Private Capital Management are back, buying a 50 per cent stake in an Adelaide mall.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Overhaul for Adgemis’ Public Hospitality Group after refinancing
The Jon Adgemis-chaired pubs empire has completed its refinancing with Deutsche Bank, with the former KPMG dealmaker to focus on redeveloping its pubs.
- Kylar Loussikian
