$170 Million in Commercial Property Transactions This Week, Perth and Melbourne

The off market sale delivers a bleak message to Record Realty, a subsidiary of the failed Allco Finance Group, and owner of the other half share of 1 Spring Street. It has been hoping to sell its share for more than a year, and for more than $90 million.

Another major office sale to occur this month was in Perth’s Northbridge, where German-based institution Deka-Immobilien has paid about $95 million for the Australian Taxation Office building, put to the market recently by the Macquarie Office Trust.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.