Greek Australian property mogul, Con Makris has just divested two shopping centres in Adelaide for a combined value of $110 million.
The rich lister, put the two malls on the market last July to wind back his retail real-estate footprint in South Australia.
Sydney property group Revelop acquired the landmark City Cross Shopping Centre in Adelaide’s Rundle Mall for $60 million.
The City Cross Shopping Centre transaction was the latest deal between the Makris Group and Revelop, after the Sydney group bought Newton Village Shopping Centre in Adelaide’s north-west for $35 million two years ago.
Meanwhile, investment firm Greenpool Capital, with backing from Qualitas, has bought North Adelaide Village, along with an adjoining site on O’Connell Street in a deal valued at $50 million.