Vicinity Group
(ASX:VCX) has announced it has acquired the DFO Brisbane business in Queensland for $55 million.
The transaction is subject to approval by the Brisbane Airport Corporation, which holds the head lease over the land and owns the buildings where the DFO is located.
CEO Angus McNaughton has indicated the addition of DFO Brisbane adds to its Outlet Centre portfolio, which has $1.1 billion in assets under management.
Vicinity obtained a first right over the DFO Brisbane business in 2010 as part of its broader acquisition of 4 other DFO businesses across Australia.
Vicinity Group reported a net profit of $424.6 million at 31 December 2015.
