The media releases on this website relate to ISPT and were issued prior to the merger with IFM Investors. They are provided for historical reference only. They may not reflect IFM’s current views, operations or position.
ISPT to increase stake in The Myer Centre, Brisbane
ISPT has initiated the proposed acquisition of an additional 25% of The Myer Centre, Brisbane from Vicinity Centres. To date The Myer Centre was held as a 50:50 JV between ISPT and Vicinity Centres, post settlement ISPT will hold 75% of the asset. Vicinity Centres will remain the property manager and development manager.
Sam Curry, ISPT General Manager, Corporate Services said: “ISPT and Vicinity Centres enjoy a productive working relationship and share five assets in JV status including two under development.”
ISPT is also in due diligence for a 50% interest in Mornington Central owned by Vicinity Centres. Vicinity Centres will retain 50% and continue to provide property management services for the Centre. This would be the first joint venture for IRAPT and Vicinity Centres.