Publications

- March 1, 2022: Vol. 14, Number 3

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Centuria, GIC to acquire West Village retail precinct in Brisbane

by Jennifer Molloy

GIC, Singapore’s sovereign wealth fund, has agreed to buy the West Village retail precinct in Brisbane, Australia, with co-investor Centuria Capital Group in an off-market deal for A$202 million (US$142 million), according to the Australian Financial Review, which identified the investor. According to a release from Centuria, the firm “will co-invest in the trophy acquisitions alongside an existing international sovereign wealth fund’s institutional mandate.”

Located within Sekisui House’s A$1.1 billion (US$779 billion) master-planned, mixed-use development in Brisbane’s West Village, the asset is part of a long-term rejuvenation project within the fringe-city Brisbane suburb, West End, just one kilometre from the heart of the central business district.

The three-phased transaction includes existing landmark properties as well as assets to be constructed. Settlement of the various phases is expected between early 2022 and early 2023.

The fir

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