The biggest sovereign fund investor in Australia and the biggest offshore source of capital in commercial property, which overseas $1.4 trillion ($US847 billion) in assets, is reportedly keen on the leading village operator.
GIC’s Managing Director Chin Kiong Goh visited Australia late last month, according to Nine Entertainment’s Financial Review, and personally looked at the sale details of Brookfield-owned Aveo, indicating his business was interested.
Barrenjoey and Morgan Stanley who are handling the sale have reportedly started taking reconfirmed non-binding indicative offers for Aveo, with GIC likely to appoint Rothschild Australia to be its advisor during the binding stage.
GIC Real Estate is then vying with:
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ASX-listed Charter Hall, which has a market cap of $8.16 billion and is taking its counsel from King & Wood Mallesons;
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Scape Australia, advised by Macquarie Capital and Deutsche Bank.
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Oxford Group, part of Canadian global pension investor OMERs, was also reportedly interested
Binding offers are due in April, sources told the Financial Review.
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