Reported to be the largest neighbourhood shopping centre transaction in Australia in the past 18 months, Brookfield has completed the sale of Pittwater Place Shopping Centre to RREEF Real Estate in an off-market transaction.
Minter Ellison advised key relationship client Brookfield on the sale. Partner Virginia Briggs led the work.
"Given the infrequency in recent times of retail shopping centre transactions, the sale of Pittwater Place is a significant achievement for Brookfield. We are pleased to have assisted Brookfield to achieve this outstanding result," Virginia Briggs commented.
Pittwater Place is located at Mona Vale on Sydney’s Northern Beaches. It comprises 12,180 square meters of retail and office space and is anchored by Coles Supermarket, Harris Farm and Fitness First, a global health-club operator.
Earlier this year, Minter Ellison assisted Brookfield on the sale of Brisbane's "gold" office tower (10 Eagle Street) to Commonwealth Managed Investments Limited.