Milestone’s bidders are ready to square off again in the fight for Ascot Capital’s $1 billion-plus portfolio of logistics and office properties.
Morgan Stanley and CBRE sent out information memorandums last week and ESR and Centuria are understood to be assessing the “mini-Milestone”, but there’s no indication yet of who will be victorious.
ESR came out on top in the $3.8 billion battle earlier this year, but it’s believed to be an active data room for Ascot’s portfolio and the fundamentals for a logistics property portfolio are strengthening.
Indicative bids are due on August 4.
Elsewhere, superannuation funds have rediscovered a love for direct investing – Soul Patts gave Wesfarmers the nod that it was open to selling its Australian Pharmaceutical Industries stake and Our Innovation Fund is closing its second fund early with $100 million soon to be locked in.
Happy reading,
Anthony Macdonald and Yolanda Redrup Street Talk Editors
The fund has brought forward its final close date from the end of this year to this month and increased the size of its latest offering to $100 million.
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