Rundle Place sold in $400m commercial deal
Rundle Mall’s newest shopping centre, Rundle Place, has been reportedly purchased by global investment firm Blackstone for $400 million.
The Mall entrance to Rundle Place.
The Australian Financial Review reports this morning that the sale could be Adelaide’s largest individual property transaction.
It also marks Blackstone’s debut in the Adelaide commercial market.
The New York-based Blackstone has more than 2000 employees based in 18 offices around the world.
Its expansive portfolio of businesses employs more than 570,000 people worldwide.
The multi-level complex in the heart of the Adelaide CBD, was completed in 2013 and houses 85 stores over four storeys. It was built at a reported cost of $385 million.
A spokeswoman for Blackstone told InDaily the company would not comment on the sale.
