UniSuper expands property holdings
AMP Capital has announced that UniSuper will purchase 33.33 per cent of Karrinyup Shopping Centre in Perth from Westfield Group and Westfield Retail Trust joint venture, WestART Trust.
AMP Capital will continue to manage the centre but does not own any equity.
A strategic review of the centre led to the decision to implement a simplification of the ownership structure for its two unit holders, which are both interested in owning 100 per cent of the asset.
A price has been determined, with the sale expected to take place later in the week.
UniSuper is one of AMP Capital's key clients for its separate accounts business, which manages over $7.8 billion on behalf of Australian and international institutional clients.
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