Stockland Capital Partners Ltd (ASX:SGP) has sold 50 per cent of its stake in Waterfront Place, the fifth tallest building in Brisbane.
The property company has sold the building to the Future Fund for $216.4 million, and has also agreed to sell 50 per cent of the entity that owns the adjacent Eagle Street Pier to the Future Fund for $16 million.
Stockland’s CEO of Commercial Property, John Schroder, said unit holders had benefitted from capital growth on the sale of the property.
In the second half of last year, Stockland reported a profit of $425 million.
