Two AMP Capital funds each purchased a 25% stake in Indooroopilly Shopping Centre in Brisbane, Australia, in a transaction valued at more than A$800 million.
AMP Capital assumed management of the superregional center on behalf of the investors. The property has a gross lettable area of 116,447 square meters and features tenants such as Myer, David Jones, Coles, Woolworths, H&M and Uniqlo.
The center offers the potential to add 90,000 square meters of gross floor area, among other long-term mixed-use development opportunities.
Eureka - Real Assets, acting on behalf of Commonwealth Superannuation Corp., sold the stakes.
