Harbour Town Premium Outlets Gold Coast (Google Maps)Harbour Town Premium Outlets Gold Coast (Google Maps)

Vicinity Centres is acquiring a 50% interest in Harbour Town Premium Outlets Gold Coast in Queensland.

The stake is being acquired from Australian Prime Property Fund Retail, a wholesale fund managed by Lendlease, for AUD358 million (USD262 million).

The remaining 50% stake in the property will be retained by Lewis Land Group (LLG) and the firm will continue to manage the property while Vicinity will undertake all leasing activity.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.