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The week in global real estate - 7 April 2021

The week in global real estate  7 April 2021

A weekly update of the biggest real estate news from around the globe.

Institutional Investors

  • Brookfield Property Partners will go private through a $6.5B acquisition by Brookfield Asset Management. The mall REIT has been heavily impacted by the pandemic with many malls requiring capital intensive upgrades that have not been able to be funded under the REIT’s structure. More info here.
  • Macrotech Developers in India will launch a S$459M initial public offering to raise capital to reduce its debt. The IPO will be the second-largest to date by a real estate company in India. More info here.


  • ESR Australia has purchased an income-producing 1.5-hectare development site in Macquarie Park, Sydney for $71M. ESR plans to redevelop the site into an office park or data centre. More info here.
  • Victoria University’s city campus on Flinders Street, Melbourne has been listed for sale with price expectations over $90M. The university has occupied the B-Grade building since 1993 and is relocating to a new $400M City West Campus when its lease expires in 2022. More info here.
  • Queensland Urban Utilities has been secured as the anchor tenant in Brisbane’s Chinatown Mall office development. The water authority has taken 6,000 sqm in the new $375M office tower. More info here.
  • Wells Fargo is planning to have employees back in offices from September. The company is still encouraging employees to work from home until then. More info here.
  • Wine importer Neal Rosenthal has leased the 22nd floor in a Williamsburg office building in New York. The office will also serve as a venue for exclusive wine and food events overlooking the Hudson River. More info here.
  • Investment firm T Rowe Price has agreed to lease a larger 12,000 sqm office in London’s Warwick Court from 2023. The agreement boosts confidence in London’s office sector after a tough 12 months through the pandemic. More info here.
  • Nestle are allowing employees in mainland China to work remotely under new working arrangements brought on by the pandemic. The company has signed a deal with IWG to allow its employees in China access to all of IWG’s co-working locations worldwide. More info here.


  • Sares Regis Group is beginning the second stage of development works for the Torrance Commerce Centre, formerly the Toyota headquarters in California. The 57,000 sqm development will include four industrial buildings. The development will complete in early 2022. More info here.


  • Melbourne’s South Yarra Jam Factory on Chapel Street will be redeveloped under a new partnership between Newmark Capital, Gurner and Qualitas. The $1.4B mixed-use precinct will have 20,000 sqm of retail, an entertainment precinct, a hotel, office space and high-end apartments. More info here.
  • Swiss fashion retailer Bally is launching its newest store on Sydney’s George Street in mid-2021. The retailer has leased 406 sqm of space in the refurbished building on an 8-year lease. More info here.
  • CVS will open another Tribeca location in New York in a newly leased 1,000 sqm premise in the Keystone Building. CVS has had a boost in sales during the pandemic and will be administering vaccines in long-term locations. More info here.
  • Investor LXi Reit has purchased £85M of supermarket sites in the UK following a recent capital raise. The investor has several long-term rental investments. The investor was drawn to supermarket investments as operators have been able to remain open during the pandemic. More info here.  

Hotels and tourism

  • IHG Hotels and Resorts has signed a management agreement for an InterContinental Sorrento on the Mornington Peninsula in Victoria. The hotel will occupy the accommodation component of a 145-year-old heritage-listed limestone building and offer 106 guestrooms. More info here.
  • TFE Hotel’s Adina brand is opening their first of five new European hotels later this year. The 134-room Hotel Adina Vienna Belvedere in Austria will be one of the only hotels in Vienna to offer a swimming pool as an amenity. More info here.


  • Architecture and planning firm CallisonRTKL has partnered with Australasian architects Buchan to focus on build-to-rent projects in the Australasian market. The partnership gives clients access to local market knowledge and proven build-to-rent experience to deliver highly sophisticated products in the market. More info here.
  • Lendlease has requested to increase the height of one of three residential towers in its $4B One Sydney Harbour development. The 5,650 sqm, 8-storey extension would provide an extra 32 apartments and take the tower to 232 metres tall. More info here.

Related Experts

William Silk

Analyst | Stategic Advisory


William joined the Strategic Advisory team as an Analyst  in the Auckland CBD office in 2019, after completing studies at The University of Auckland. 

Specialising in research, reporting and analysis to support strategic commercial proprety decision making. 

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