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Blackstone doubles its money following Fortius’ $140 million purchase

Property Markets / Transactions

Australia / Sydney

Mar 02 2018

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Global investment company Blackrock has backed the purchase of the Home HQ Artarmon homemaker centre in Sydney’s northern suburbs by Fortius Funds Management. 

The centre was bought from US private equity house Blackstone, which has nearly doubled its money. 

BlackRock has been active on Sydney’s north shore, teaming up with Centuria Group’s unlisted funds unit to buy The Zenith office ­towers at Chatswood on Sydney’s north shore for $279 million in 2016.

It also bought North Sydney’s 2 Elizabeth Plaza from ­ investment house Marprop Real Estate Partners.

The 22,196sq m centre is fully occupied, primarily by national brand tenants, including Freedom, JB Hi-Fi, The Good Guys, Snooze, Fantastic Furniture and Pillow Talk.

McVay Real Estate is handling the sale.

 

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