Moelis Australia (ASX:MOE) set to acquire a 50% interest in the Westfield Marion for $670 million

Company News

by Rachael Jones

Moelis Australia (ASX:MOE) managed investment vehicle has entered into an agreement to acquire a 50 per cent interest in the Westfield Marion Shopping Centre, in South Australia for $670 million.

Westfield Marion is the 11th largest shopping centre in Australia with Moving Annual Turnover of $846 million.

The acquisition is the largest ever retail transaction recorded in South Australia and is one of the largest globally for 2019.

Following completion of this acquisition, Moelis Australia’s Assets Under Management will be approximately $4.7 billion, growth in the order of $1 billion since 31 December 2018.

Shares in Moelis Australia (ASX:MOE) are trading 0.67 per cent higher at $4.53.
 

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.