Fort Street Real Estate Capital and Dixon Advisory seek further retail investments

Fort Street Real Estate Capital and Dixon Advisory seek further retail investments
Fort Street Real Estate Capital and Dixon Advisory seek further retail investments

A Fort Street Real Estate Capital-managed fund has bought two neighbourhood shopping centres.

Set in Sydney and Adelaide they cost close to $70 million taking the total asset value in the Australian Property Opportunities Fund II to $130 million.

David Rogers, director of investments for Fort St Real Estate Capital, said despite yield compression commercial real estate like retail malls remain desirable.

APOF II has acquired the Marketfair Campbelltown mall for $48.25 million, representing a fully leased yield of 6.5 percent through Stonebridge Property Group.

The identity of the Adelaide centre has not been disclosed. It is understood the price was just under $20 million.

Fort Street Real Estate is a joint venture between Fort Street and Dixon Advisory Group.

Tags: 
Shopping Centre Commercial Sale

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