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Aventus, Primewest tipped to bid for private equity group's A$500M portfolio

The ongoing divestment of Australian private equity group Altis Property Partners' A$500 million portfolio of retail properties in Australia is expected to attract bids from listed trust Aventus Retail Property Fund, funds manager Primewest and private real estate investor Arkadia, The Australian reported.

Formerly owned by GPT Group, the portfolio includes the Homemaker The Valley retail center in Brisbane's Fortitude Valley suburb in Queensland; and the Homemaker Lake Haven; Homemaker Greenway & Greenway Plaza; and Homemaker Prospect centers across the state of New South Wales, the May 10 report added. Altis Property took ownership of the assets after purchasing them for A$103.2 million in 2013.

The assets, marketed with the aide of JLL, carry future redevelopment opportunities, according to the publication.