A private investment house backed by the billionaire Lowy family, which made its fortune in Westfield malls, has partnered with one of the world’s biggest property fund managers to buy a $248 million shopping centre in south-west Sydney.
The acquisition of Ed.Square Town Centre represents the second time in the past year that Assembly Funds Management, a local investment house, has teamed up with PGIM Real Estate to buy into Australia’s shopping mall sector.
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