Street Talk
Dexus, CPPIB in advanced talks to sell Sydney’s $550m Tiffany building
The owners of Sydney’s 175 Pitt Street, the 22-storey office building best recognised for housing jeweller Tiffany & Co’s flagship store, are closing in on a sale of the tower, which has a $550 million book value.
Street Talk understands that Dexus and the $C600 billion-plus ($663.5 billion) Canada Pension Plan Investment Board are in advanced discussions to sell 175 Pitt Street to Marquette Properties, a firm founded by former Multiplex executive Toby Lewis.
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Kanika Sood is a journalist based in Sydney who writes for the Street Talk column. Email Kanika at kanika.sood@afr.com.au
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
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