ISPT Takes $722m Half Stake in Westpac Place

Superannuation fund ISPT picked up 100 per cent of units in a Mirvac-run trust which controls a half-stake in the 275 Kent Street asset. Mirvac assigned its rights to the half-interest to the superfund which took it for $721.9 million.

Blackstone listed its half share in January. Property group Charter Hall initially emerged as the preferred buyer for the half-interest at Westpac Place but Mirvac exercised its preemptive rights over the half-share in early June.

Mirvac will retain management of the asset.

Image and article source: https://theurbandeveloper.com/articles/ispt-exchanges-to-acquire-50-of-westpac-place?

Ray White’s top 10 listings for June: (Click on the address to view listing)

Part 30, 264 George Street SYDNEY

Suite 2102, 126 Phillip Street

Suite 701, 109 Pitt Street SYDNEY

Suite 901, 50 Margaret Street SYDNEY

Suite 102, 66 Clarence Street SYDNEY

Part 39, 161 Clarence Street SYDNEY

Suite 804, 46 Market Street SYDNEY

Level 9, 46 Market Street SYDNEY

Level 8, 27 Macquarie Place SYDNEY

Levels 1 and 2, 94 Beattie Street BALMAIN