Fortius arrives with Irongate at Rundle Place in $210m deal
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ASX-listed Irongate has partnered with property platform Fortius to take out Rundle Place, a prime shopping destination in the heart of Adelaide’s CBD, for about $210 million, in one of the biggest single retail deals since the pandemic disruption.
On the sell side is deep-pocketed private equity giant Blackstone, which acquired both the shopping centre on Rundle Mall and an office tower above it in a $400 million transaction five years ago. The office component was sold three years ago to Centuria, in partnership with Rich Lister Paul Lederer, for $185 million.