Capital Property Group invest in Stockland Sunshine Coast development

Company News

by Rachael Jones

Diversified property group Stockland (ASX:SGP) has announced a strategic capital partnership in its residential portfolio, with Capital Property Group.

They will be investing a 50 per cent interest in Stockland’s largest masterplanned community, Aura on the Sunshine Coast, at around 30 per cent premium to book value.

Capital Property Group developed and owns Canberra Airport, and has a residential development in Canberra called Denman Prospect, as well as a mixed use project underway in Canberra’s CBD, Constitution Place.

Shares in Stockland (ASX:SGP) closed 2.36 per cent higher at $4.34 yesterday.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.