(For more retail coverage, click GlobeSt.com/RETAIL.)
SYDNEY-Mirvac Group is planning to pay A$1.12 billion ($876million) for a portfolio of businesses and properties fromdeveloper Walker Corp. The portfolio includes the Rhodes andBroadway shopping centers in New South Wales and a large-formatretail center currently being built at Lake Haven on the New SouthWales central coast.
Greg Paramor, managing director of the integrated real estategroup that is based here, told a press conference that the companyhad paid a fair price for the assets. "The retail assets are wellpriced, and we think we bought well," he said. "The market is veryaggressively priced and has been for the last six to sevenyears."
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