Paul Lederer, Stadia trade Brisbane offices
LDR Capital, on behalf of the Capital Partners Fund, has sold two suburban Brisbane offices to Stadia Capital.
The $65.5 million deal falls short than the December, 2025, book value, by six per cent.
The Nexus Centre at 96 Mount Gravatt-Capalaba Road, Mount Gravatt, is the priciest – speculated to be worth c$35m.
With 7272 square metres, it was offered 98 per cent occupied.
Corval once owned this asset – selling for $29.75m in 2016.
The other Stadia property is 38 Limestone Street, Ipswich.
Also known as the Limestone Street Centre, it contains 7051 sqm, of which 94.7pc is leased.
Both offices are rated C-grade.
“Secondary assets” sold
The LDR Capital Partners Fund recently banked $24.8m from 34 Corporate Drive, Cannon Hill (continues below).
“These deals…are consistent with our asset recycling strategy,” director, Paul Lederer, said.
“The sales are expected to further strengthen the LDR balance sheet by reducing drawn debt,” he added.
“Following completion…LDR will have been able to exit three secondary assets,” according to the executive.
Settlement is scheduled in August.
Net proceeds, expected to circle $57.6m after adjustments, will repay debt.
Pro forma gearing will fall to 30.1pc based on the fund’s December, 2025, financial position, Mr Lederer said.
Stadia is acting for a private investor.
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