trending Market Intelligence /marketintelligence/en/news-insights/trending/svGCoSO0zVxHmFVSQSVyJA2 content esgSubNav
In This List

Vicinity seals A$224.6M deals to sell stakes in 2 Australian assets

Blog

Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

Blog

Real Estate News & Analysis: May Edition


Vicinity seals A$224.6M deals to sell stakes in 2 Australian assets

VicinityCentres exchanged A$224.6 million worth of contracts to sell itsstakes in two properties in Australia to ISPT.

The company is divesting a 25% stake in The Myer CentreBrisbane in Queensland in a deal set to close in October. Upon closing, it willretain a 25% stake in the asset and a one-off put option exercisable throughthe second anniversary of the deal's closing.

Vicinity is also selling a 50% stake in the MorningtonCentral property in Victoria. It will retain a half stake in the asset once thedeal closes in November.

The transactions are part of the company's roughly A$1.5billion asset divestment program.

As of Sept. 23, US$1was equivalent to A$1.31.