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Brookfield Property Partners Sells Interest in Towers For $675 Million

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Brookfield Property Partners has sold its 50 per cent interest in Southern Cross East and West Towers in Melbourne for $675 million.

Colliers International's Melbourne Capital Markets team sold the 50 per cent interest to Blackstone in what is one of Australia’s largest office investments.

The sale is the largest ever office transaction in the Melbourne CBD, eclipsing the 2014 sale of ‘CBW’, in which a 100 per cent interest was sold for $608.1million by Colliers International.

SOUTHERN CROSS EAST (121 EXHIBITION STREET)

Built in 2006, Southern Cross East is a modern, 38-level office building featuring more than 77,000sqm of A-grade office space constructed around a central core.

The ground level features a double height entrance foyer as well as 15 retail tenancies positioned along Bourke Street, Exhibition Street, Little Collins Street and Southern Cross Lane.

SOUTHERN CROSS WEST (111 BOURKE STREET)

Southern Cross West is the second tower in the Southern Cross development and was constructed in 2009. The A-Grade office building comprises a generously proportioned ground level foyer, 12 retail tenants and 20 upper levels of office accommodation.

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Article originally posted at: https://theurbandeveloper.com/articles/brookfield-property-partners-sells-interest-melbourne-towers-sells