trending Market Intelligence /marketintelligence/en/news-insights/trending/lCsZfAFyZVxCAP1REzbOeQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Propertylink sets up A$500M fund for A$150M Sydney tower buy

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate CRE Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Propertylink sets up A$500M fund for A$150M Sydney tower buy

Propertylink is establishing a fund with Partners Group AG, with the duo making their first acquisition in North Sydney for A$150 million.

The Propertylink Australian Commercial Trust I fund is targeting up to A$500 million in total commitments to buy grade A and B office assets in Sydney, Melbourne and Brisbane, with the Australian developer investing 15% of the fund's total equity.

The fund acquired the 11-story 73 Miller Street building from Propertylink Office Partnership and its offshore investment partner, according to a release. The two sellers respectively own a 95% and 5% interest in the office property. The acquisition has a core market yield of 6.6% and comes with an internal rate of return of 14% for Propertylink Office Partnership.

The 14,672-square-meter grade A office building in North Sydney is Propertylink Office Partnership's only asset, which means the sale effectively closes the fund that was established in 2014. The Australian Financial Review reported Dec. 18 that Chinese conglomerate Fosun co-owns the building.

The Australian company and its Swiss partner also committed to spend about A$30 million to reposition the asset when it becomes vacant in June 2019.

Due to the acquisition and the resulting performance fee, Propertylink also updated its fiscal full-year 2018 distributable earnings guidance to 9.0 Australian cents per security, up from the previous guidance range of 8.5 cents to 8.7 cents. Its distribution per security in the full year was revised to 7.3 cents, also firmer than the previous 7.1 cents to 7.3 cents range.