Oxford Properties continue to prosper in business as they recently sold $1.1 billion during an extensive divestment of office towers from the holding of the formerly listed Investa Office Fund. The company has won over the properties against their rival bidder Blackstone last year.
Out of the 10 towers to be sold, the Canadian real estate company have two remaining properties left in the market. For only few weeks duration, the Piccadily Complex in Sydney’s CBD is receiving bids reaching $350 million while Walker Street tower in North Sydney is winning interest at $310 million. The third tower, 6 O’Connell Street, is under review.
Winning bidders for the divestment plan include fund manager Anton Capital that is taking over 39 George Street and 15 Adelaide Street in Brisbane’s CBD for about $225 million. Fund manager Ash Morgan takes the three-building cluster in central Brisbane known as The Complex for about $430 million.
Other successfully sold properties excluded from the divestment are towers at 111 Pacific Highway in North Sydney and 16-18 Mort Street in Canberra costing $72 million. Also, Charter Hall is checking out an $800 million Exhibition Street in Melbourne.
Article source: https://www.afr.com/real-estate/commercial/oxford-sells-more-than-1b-in-office-towers-20190619-p51z96
Image source: www.ecogeneration.com.au
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