Australian Prime Property Fund Retail (APPF), a fund managed by LendLease, has placed for sale its 50 percent stake in one of Australia’s leading super regional shopping centers, Westfield Carindale.
The sales price is estimated to be A$850 million ($568 million). The asset has a total value of A$2.5 billion ($1.7 billion).
CBRE is marketing the asset on behalf of the fund.
It is the 12th-largest shopping complex in Australia, totaling 139,605 square meters (1.5 million square feet). And it is ranked ninth in Australia for total moving annual turnover, at $880 million.
Located on a 16.45-hectare site in Brisbane’s southeastern
