Canada Pension buys into Melbourne complex

Reported by AAP
Wednesday, June 1, 2011
Topics in this article:
Cfs Retail Property ,Commonwealth Bank Of Australia.
Sold for $1.3 million one day, no buyers for $440,000 the nextRundown home shows death of mining boom.

The Canada Pension Plan Investment Board has bought a 50 per cent interest in Melbourne's Northland Shopping Centre for $455 million from private property company Gandel Group.

The other 50 per cent of Northland, which is a 92,380-square-metre regional shopping centre, is owned by Colonial First State Retail Property Trust (CFX).

Colonial First State Global Asset Management, which manages CFX and is a part of Commonwealth Bank of Australia Ltd, will continue to manage Northland.

The Gandel Group is owned by property billionaire John Gandel and has a 26 per cent stake in CFX.

30/08/2015 13:33Sydney, Australia. 30 August,2015
advertisement