Abacus and Kirsh Buy Sydney CBD Offices

PRIVATE investor Kirsh Group has paid a combined price of $153.5 million for two Martin Place, Sydney office towers.

The private group worked with the ASX listed Abacus Property Group to acquire No 14 Martin Place for $95 million. Kirsh purchased 4 Martin Place on its own, for $58.5 million. Wealthy publican Cyril Maloney was the vendor of both properties.

The sales reflect market yields of about 8 per cent.

Last August, Kirsh and Abacus paid $174 million for the Birkenhead Point Shopping Centre and Marina, also in Sydney.

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