Expert insights Investing Half share in North Sydney's 101 Miller Street-Greenwood Plaza sold for $300 million plus
Half share in North Sydney's 101 Miller Street-Greenwood Plaza sold for $300 million plus
Jonathan ChancellorDecember 7, 2020
A 50% stake in North Sydney’s 101 Miller Street/Greenwood Plaza has sold for $300 million plus.
The deal, one of the biggest commercial property transactions for the fourth quarter, was negotiated by Rob Sewell and Simon Rooney of JLL & CBRE.
TIAA Henderson Real Estate, on behalf of TIAA-CREF purchased the half stake from Eureka Funds Management.
The remaining 50% share of the landmark office tower and dominant shopping centre will continue to be owned by the Mirvac Group.
Mirvac will continue to operate 100% of the asset.
Rob Sewell said 101 Miller and Greenwood Plaza was one of Australia’s limited stock of 35 premium grade buildings.
"But more importantly it is the only premium asset across Australia that is outside of a CBD area," he said.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.