China’s Dalian Wanda Commercial Properties has acquired Gold Fields House, located at Circular Quay in the Australian city of Sydney, and a nearby property, Fairfax House, for A$414.7m and A$73m respectively.
Blackstone Group, the former owner of Gold Fields, said Jones Lang LaSalle and CBRE advised on the deal, which is expected to conclude in March.
The two properties will be redeveloped to include a 607-foot tower and a five-star hotel, as well as residential properties and retail outlets. The transformation will cost $1b.
