Mt Ommaney Shopping Centre sold by AMP for $416 million
AMP Capital has sold the Mt Ommaney Shopping Centre in Brisbane for $416.25 million struck on a capitalisation rate of 6.25%.
It was bought by a joint venture between Federation Centres and US-based TIAA Henderson Real Estate for $416.25 million.
The purchase marks TIAA Henderson Real Estate’s first foray into retail property in Australia.
With over $18 billion in assets, TIAA Henderson Real Estate will own 75% and Federation Centres will own 25%, as well as provide ongoing property management.
AMP’s Australian Core Property Portfolio sold the 2010-redeveloped 57,000-square-metre centre having acquired it in 1980.
Colliers International’s Lachlan MacGillivray negotiated the sale.