MA Financial has acquired the Hyperdome Town Centre shopping centre complex in northeastern Australia from QIC Real Estate for A$678.7m (€380.6m) to seed a single-asset fund.
MA Financial has raised A$405m for the new fund from investors for the fund holding the shopping centre complex in Loganholme, Queensland.
Situated on a 44ha site, the fully leased Hyperdome complex includes the Hyperdome Shopping Centre, Hyperdome Home Centre, multiple other peripheral properties and approximately nine hectares of surplus land.
Chris Lock, head of core real estate at MA Financial, said the transaction reinforced the firm’s growing presence in large-scale retail real estate and showcased its fully integrated real estate platform.
“We are very excited to secure Hyperdome Town Centre, which is one of Queensland’s largest and most strategic retail landholdings and the focal point of its local community. This exceptionally rare acquisition builds on our recently announced acquisition of Top Ryde City Shopping Centre, alongside Keppel REIT.”
The deal takes MA Financial’s total retail real estate transactions to a combined A$1.2bn since acquiring IP Generation in September this year.
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