US global investment firm buys big in South Australia

International investment fund, Blackstone, has purchased Adelaide’s luxury retail precinct, Rundle Place, in a deal worth over $400 million. The acquisition marks the US private equity firm’s first foray into Adelaide’s commercial market and represents the largest individual property transaction within the city. Grenfell Street office tower, which sits above the shopping centre, is included within the deal, which sees Blackstone seek to capitalise on higher returns in the redeveloped

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