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.