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New Deal


Announced

CICT to acquire a 50% stake in 101-103 Miller Street and Greenwood Plaza for $303m.

Financials

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Transaction Value£302m
Consideration TypeCash
Capital Owned-
Capital Bid For50%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private

Australia

Single Bidder

Friendly

Pending

Cross Border

Minority

Real Estate Holding and Development

Real Estate

Private Equity

property

Acquisition

Synopsis

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CICT, a real estate investment trust, to acquire a 50% stake in 101-103 Miller Street and Greenwood Plaza in North Sydney Central Business District for $303m. "We are pleased to acquire a 50.0% interest in 101 Miller Street and Greenwood Plaza, which is one of the most prominent integrated developments with a Premium Grade office tower and high quality retail in North Sydney CBD. The Proposed Acquisition marks another step forward in CICT’s portfolio reconstitution journey to drive sustainable growth and diversify income sources through accretive acquisitions and recycling capital to higher yielding assets," Tony Tan, CEO of CICT.

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