THE death of Melbourne property king Ezriel Rabinowicz has further stalled takeover talks between Austock Funds Management and the Rabinowicz family over ultimate control of the publicly listed ANZ Rabinov Property Trust, which owns $300 million of commercial property.
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From the category archives:
Commercial
Death of property dealer delays control talks
Commercial fire sale: buyers smell blood
MORE than $5 billion of commercial property is coming up for sale as ripples from the credit crisis reverberate through the economy.
“Buyers are smelling blood, so they are sitting on the sidelines and waiting,” said Perpetual Investment head of direct property Goran Ujdur.
Cash is king, says Perpetual in its latest Property Outlook. “Superannuation funds, sovereign wealth funds and cashed-up private investors who sold major portfolios over the last two years (such as Lang Walker, Kevin Seymour, and the Besen/Berger families) will be in a strong position and they will have less competition,” Perpetual said.
