QIC has exchanged contracts with Hawaiian on the purchase of QIC’s 50 percent share of Claremont Quarter in Western Australia, making Hawaiian the sole owner of the center.
The divestment of Claremont Quarter, jointly held by the QIC Property Fund and QIC Town Centre Fund, is in line with client-endorsed strategies for both funds.
James Doneley, QIC director of real estate capital markets, said the deal further showcased QIC’s ability to deliver successful transactions on behalf of investors.
“Moreover, the strong response to our Expression of Interest campaign in the past fortnight demonstrates that confidence is returning to the broader retail sector,” said Doneley. “Against this backdrop, we will continue to execute on market opportunities which drive strong performance for our investors.”
Both Hawaiian and QIC expressed their gratitude for the successful partnership they have enjoyed over the years.
