An omen for Australia's commercial property market?

Posted by Simon Dehne on September 14, 2015 in Latest News with No Comments

Even as global investors queue eagerly to get their hands on Australian real estate, one astute investor, Singapore’s sovereign wealth fund GIC Pte Ltd, has been quietly taking profits and selling down its Australian holdings.

GIC has sold its five-star hotels, an industrial portfolio, an office building and a key stake in GPT Group, one of Australia’s largest listed trusts.

A quick tally of GIC transactions since 2013 shows these sales have yielded proceeds totalling about $4 billion.

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