Yesterday
Quintis receivers put sandalwood trees, factory up for sale
Sandalwood plantations in WA and northern Queensland and an essential oil distillery in Albany are being marketed by Elders on behalf of receivers.
- Larry Schlesinger
Tax fraudster Li Zhang fights the ATO from jail
The irony of the convicted golf course developer now accusing the Tax Office of doing something untoward is so delicious, you could serve it up at a hatted restaurant.
- Max Mason
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
Dexus, CPPIB in advanced talks to sell Sydney’s $550m Tiffany building
The tower’s book value was about $622 million as of December 31, but this was slashed to about $550 million during Dexus’ revaluation of its portfolio in June.
- Sarah Thompson, Kanika Sood and Emma Rapaport
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
Assembly Funds Management kicks off $100m raise for property fund
Michael Gutman is aiming for 15 per cent to 17 per cent in annualised target returns from ADPF2, whose mandate allows it to invest in either debt or equity.
- Sarah Thompson, Kanika Sood and Emma Rapaport
How this Brisbane couple added a sea change to their downsizing
Susie and Glenn Molloy wanted to live close to the water after one of their parents passed away, so they moved to a duplex near Port Stephens in NSW.
- Campbell Kwan
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
Malaysian developer set to sell 50pc stake in Melbourne’s Shangri-La
Sources said the acquirer was a large unlisted credit fund and had put a compelling offer on the table that exceeded the initial sale price expectations.
- Sarah Thompson, Kanika Sood and Emma Rapaport
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
This 23-floor Manhattan office building just sold at a 97.5pc discount
It is the latest and perhaps most surprising sign of how the pandemic has upended the state of office buildings in New York, the largest CBD in the US.
- Matthew Haag
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
- Analysis
- Due diligence
DroneShield: a capital markets plaything or the real deal?
Even as sceptics question its valuation, the drone detection and jamming group has a near $1 billion market capitalisation.
- Jemima Whyte
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
