AMP Capital is looking to buy the Rundle Place retail property in Adelaide, Australia, from Blackstone Group LP for approximately A$250 million, The Australian reported.
Rundle Place is a five-level shopping center that is anchored by Coles and is also home to a Harris Scarfe department store, an Apple store and approximately 50 specialty stores. Completed in 2013, it also has a 506-space carpark and provides more than 23,000 square meters of retail space, according to the publication.
The private equity giant purchased Rundle Place along with an adjacent tower and the office building at 80 Grenfell St. as part of a A$400 million transaction.
Marketing agents Knight Frank and McVay Real Estate Pty. Ltd., along with Blackstone and AMP Capital, were not available for comment regarding the latest sale, the May 23 report added.