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Hines acquires first retail asset in Asia Pacific in partnership with Haben
Transactions - JANUARY 28, 2025

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Hines acquires first retail asset in Asia Pacific in partnership with Haben

by Andrea Zander

Hines has completed the acquisition of Westpoint shopping center in Sydney,  in partnership with Haben Property Fund Pty Ltd., from Queensland Investment Corporation Ltd. (QIC).

This acquisition marks Hines’ first retail asset in both Australia and the Asia Pacific region, highlighting the growing optimism and improved fundamentals in the global retail sector.

Located at 17 Patrick Street in Blacktown, a key transport hub in western Sydney, Westpoint spans approximately 104,000 square meters (1.12 million square feet) of core retail space, making it one the biggest shopping centers in Sydney’s west. Anchored by Australia's three largest supermarket chains, the property is strategically positioned in one of New South Wales’s fastest-growing metropolitan areas.

“The retail sector has undergone a remarkable transformation, and we believe it is now poised for continued growth,” said David Warneford, country head of Australia and New Zealand at Hines. “W

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