Centuria has divested a Sydney CBD-fringe office for $103 million, which represents no discount to its book value, in an optimistic sign for an office market that has been battered by hybrid work.
The deal was negotiated by Rebus Property’s Scott Timbrell. The asset was divested as the fund is set to close next year.for the unlisted Centuria ATP Fund. Centuria acquired the portfolio for a collective $104 million. It had acquired the assets on a bet that South Eveleigh, previously known as an industrial area, would be gentrified and receive social and commercial infrastructure.
Source: Real Estate Daily Report (realestatedailyreport.net)
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