Business
Stockland agrees to sell two shopping centres to Sydney-based Haben – The Australian Financial Review
Listed real estate giant Stockland has cut its losses and offloaded two shopping centre assets.
Meanwhile, the Caloundra centre was pegged to sell for $97 million with a $3 million rent guarantee, which implied an 8 per cent passing cap rate. At its peak valuation in June 2018, Caloundra was worth $125 million.
Haben also agreed to buy a 21-house residential block adjacent to the centre for $8 million, under a three year put and call agreement.
The two centres are anchored by big name retail tenants including Aldi, Coles, Woolworths and Kmart. JLL’s retail investment team was helping neg…
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