Commonwealth Bank of Australia
(ASX:CBA) is reportedly considering bringing the management of its $5.7 billion CFS Retail Property Trust
(ASX:CFX) in house as it weighs the future of its property platform.
According to media reports, CBA is likely to manage the property portfolio in house and billionaire John Gandel, who is the largest stakeholder in the venture, supports the move.
CBA and Mr Gandel have both reportedly fielded unsolicited approaches about a potential deal.
The reports also say GPT Group
(ASX:GPT) and Dexus Property Group
(ASX:DXS) are seen as likely bidders for the management rights to the $2.5 billion Commonwealth Property Office Fund, if it was offered.
CBA generated a net profit of $3.7 billion in the first half of this financial year.
