Real Estate

Real estate investment firm ISPT on Wednesday failed in its challenge to a $10.7 million stamp duty assessment, with a judge finding Victoria's revenue office was entitled to lump two acquisitions together.

A judge has rejected Forte Construction's bid to overhaul its defence to $6.3 million in claims by the liquidators of collapsed real estate fund manager iProsperity, saying the company had shown "contumelious disregard" for the court's earlier orders.

Superannuation fund-owned IFM Investors has purchased four sites in high-growth Melbourne suburbs to develop into a $300 million shopping centre portfolio as part of a partnership with Fawkner Property and Oreana. 

Dexus has surpassed its target of $2 billion in divestments by the end of the current financial year by selling two Sydney office buildings and one in Brisbane for $715 million.

Three-storey housing should be allowed in most suburbs, the Productivity Commission has recommended in a report that finds existing housing regulations have stymied new developments.

Westwood Capital has lost its appeal over a contract to sell commercial property in Punchbowl for $100 million, after a judge found it was an uncommercial transaction and that Westwood had reasonable grounds to suspect the purchaser would become insolvent.

Developer LBJ wants to amend its case over a residential development at Victoria's Lilydale Quarry weeks out from trial, with its joint venture partner arguing the court should not base its decision on LBJ's argument that there could be a sinkhole at the site.

AwareSuper has acquired a 50 per cent stake in a Sydney CBD office tower for around $226 million, forming a new partnership with Hong Kong-based REIT Link.

Lendlease has established an investment partnership with Dutch pension fund manager PGGM with an investment capacity of up to $1.1 billion.

The owner of the Oaks Hotels & Resorts is facing a class action by landlords who allege the hotel operator misrepresented that it was entitled to reduced rent payments during the COVID-19 pandemic.