Nikos Property Group Pty Ltd. agreed to acquire 50% stake in Carlingford Court from Vicinity Centres (ASX:VCX) on December 20, 2024. A cash consideration will be paid by Nikos Property Group Pty Ltd. In a similar transaction Nikos Property Group Pty Ltd. is also acquiring 50% stake in Roselands and Elizabeth City Centre each, and the combined consideration payable for all the three acquisitions is AUD 457 million. The expected completion of the transaction is April 1, 2025.
Vicinity Centres is an Australia-based retail property company with a fully integrated asset management platform, and $23 billion in retail assets under management. The Company’s principal activities include investment in a portfolio of retail investment properties. It owns and manages retail destinations across Australia and offers a range of retail, residential, and office spaces. It has a direct portfolio with interests in approximately 56 shopping centers (including the DFO Brisbane business) and manages 29 assets on behalf of Strategic Partners, 28 of which are co-owned by the Group. Its properties include Bankstown Central, Bayside, Buranda Village, Chadstone, DFO Perth, Emporium Melbourne, Queen Victoria Building, QueensPlaza, and The Glen. Its development properties include One Middle Road, Chadstone, Bankstown Central, Victoria Gardens, Box Hill Central, and Chatswood Chase Sydney. Its retail solutions include advertising, brand activations, leasing, and pop-up retail.
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