The buyers of the Ed.Square Town Centre are PGIM’s Real Estate Investment Group and Assembly Funds Management. The mall was developed by Frasers Property Australia and completed in 2021 as part of a mixed-use master-planned community, according to The Business Times.
Mark Gleeson, executive general manager for investment and capital transactions at Frasers Property Australia, said the Ed.Square Town Centre sale aligns with the group’s capital recycling strategy of divesting well-established assets at the right time.
He added: “In addition to our recent site acquisitions, we continue to seek opportunities to showcase our expertise and create value developing new master-planned communities in our core eastern seaboard markets.”
 |
|
Ed.Square Town Centre, Sydney, Australia. Photo courtesy of Frasers Property |
The Ed.Square Town Centre sale is the second divestment announced by Frasers Property Australia so far this year. In May, Frasers announced a deal to sell the West Sydney retail complex Eastern Creek Quarter to Australian shopping center operator Vicinity Centre for AUD400 million.
Frasers Property is controlled by billionaire Charoen Sirivadhanabhakdi, the third richest person in Thailand with a net worth of $11.5 billion, according to Forbes.
PGIM’s Real Estate Investment Group, one of the world’s largest real estate investment managers, has partnered with Australian real estate private equity manager AFM to launch an operating platform targeting high-quality retail assets for income and growth.
The transaction follows their joint acquisition of Woodgrove Shopping Centre in western Melbourne in September 2025 for AUD440 million, according to property news platform Mingtiandi.
PGIM has recently been acquiring assets in Australia and Japan after announcing last year that it planned to invest $2 billion in the Asia-Pacific region.
The firm acquired more than $600 million worth of Japanese real estate in 2025, including a portfolio of apartment blocks in Tokyo, land for a data center in Osaka and a hospitality asset.
In Singapore, PGIM partnered with Northstar Capital in February to acquire an industrial site in western Singapore from Far East Organization for about SGD121 million ($94 million). The acquisition was made through PGIM’s flagship Asia-Pacific value-add real estate strategy.
Sourcee.vnexpress.net
