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12 December 2017
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Brookfield has reportedly sold Sydney development project

08 August 17 - RE+D Magazine
Brookfield has reportedly sold Sydney development project

COMPANIES

IBI Group

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

Solum Property Solutions

Consultant - GREECE

Savills

Consultant - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
Brookfield Property Partners has sold a half stake in its landmark Sydney development project to AMP Capital and EG Funds Management for close to AUD1billion (€670m).

 

Industry sources confirmed to IPE Real Estate that AMP Capital and EG Funds Management have each acquired a 25% share in Wynyard Place, which has an end value of AUD1.8billion.

Brookfield hired JLL to run a global marketing programme for the project earlier this year and reportedly had conversations with Korea’s National Pension Scheme and other offshore groups.

Some reports suggested that the investors would likely have done the deal at 4.5% yield.

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