<article>Real estate firms <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=M%26G+Real+Estate" target="_blank">M&amp;G</a>, and <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Propertylink" target="_blank">Propertylink Group</a> have each bought multi-million dollar properties in Australia, the Casey Central shopping center, and one industrial complex, respectively.</article>

Real estate firms <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=M%26G+Real+Estate" target="_blank">M&amp;G</a>, and <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Propertylink" target="_blank">Propertylink Group</a> have each bought multi-million dollar properties in Australia, the Casey Central shopping center, and one industrial complex, respectively.
<h3 style="text-align: justify;">M&amp;G acquires Casey Central for $163m</h3>
UK-based investment firm M&amp;G Real Estate recently acquired for over $163 million (AUD221 million) Casey Central, a shopping mall and real estate property in Melbourne, Australia.
M&amp;G closed the deal with Sydney-based property owner and operator Scentre Group with completion of the transaction due in the first quarter of 2017.
&#8220;The sale of Casey Central reflects a core capitalisation rate of 5.25 per cent and a premium to book value,&#8221; Scentre Group said in its statement.
Having acquired its initial interest in the centre in 2006, Scentre Group transformed Casey Central last March 2016 with a $155 million redevelopment which saw it become the key neighbourhood retail destination in Melbourne’s south-eastern growth corridor, with the completed centre featuring 98 retailers including Coles, and a new Target, Aldi and Woolworths.
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<h3 style="text-align: justify;">Propertylink buys $46m industrial complex</h3>
Propertylink Group has bought for $46.6 million an industrial complex in the western Sydney suburb of Yennora sold by local private developer Lamiprint.
Lamiprint divested the property just after it struck a major leasing deal with online fashion retailer The Iconic.
&#8220;The property features a quality income stream with a weighted average lease expiry of 6.6 years, including the new seven-year lease with The Iconic,&#8221; Propertylink said in its statement.
Located at 205-231 Fairfield Road, Yennora property has become the 11th industrial asset of the unlisted Propertylink Australian Industrial Partnership II (PAIP II), indicating the group’s ability to source acquisitions in Sydney’s industrial market.
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The sale of the A-grade industrial property showed an initial yield of 7.39 per cent and was brokered by Elijah Shakir of CBRE.
The Yennora property spans a total lettable area of 31,086sq m, set on a 5.5ha site and offers high clearances of up to 13.2m, along with a corporate office on two levels.
Propertylink chief executive Stuart Dawes said the completion of the Yennora deal has made PAIP II&#8217;s value at $220m with a forecast portfolio WALE of 5.1 years.
Dawes said it reflected the solid demand from leading local and global investors for such properties.
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Propertylink manages more than $1 billion of assets with an 7.4 per cent average coinvestment that generates revenue and aligns investor and manager interests.
Propertylink head Peter McDonald noted the changing nature of supply chains, and said that a feature of the current cycle was the fundamental change in the way they were designed and implemented, largely due to structural changes brought about by e-commerce.
&#8220;This demand, coupled with limited new supply, has resulted in consistent positive net absorption over a two-year period,&#8221; McDonald said.
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<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/propertylink-goldman-sachs-buy-107-8m-denison-industrial-portfolio-49502/" target="_blank">Australia: Propertylink, Goldman Sachs buy $107.8m Denison industrial portfolio</a>

Australia: M&G acquires Casey Central for $163m; Propertylink buys $46m industrial complex

Australia: M&G acquires Casey Central for $163m; Propertylink buys $46m industrial complex

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Australia: M&G acquires Casey Central for $163m; Propertylink buys $46m industrial complex

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