David Schwartz

Primewest has expanded its US presence to more than $100 million worth of assets, acquiring a $13 million office building in San Diego as the developer and funds manager moves closer to its listing on the Australian Securities Exchange.

Investors across Australia have backed Primewest’s ambitions to expand its offering via an ASX listing, with the company confirming it has raised its targeted $100 million.

Newly-listed property fund manager Primewest has added $45 million of new assets to its portfolio, with its newest fund acquiring a Coffs Harbour shopping centre and a logistics facility in South Australia.

A fund managed by Primewest has sold a historic building and an adjoining eight-storey office tower in Brisbane’s CBD for $47.4 million.

Primewest is spinning out five of its office assets in Perth and Brisbane into a new publicly listed fund, with the new trust’s portfolio valued at around $285 million.

Primewest is diversifying its portfolio into agricultural assets, fresh from announcing it would spin-out five office properties in Perth and Brisbane into a new ASX-listed trust.

This year’s Most Influential feature has been narrowed down to the 50 people in WA making the biggest impact in business and politics.

Primewest has postponed the spin-out of a new $285 million commercial property trust, citing market volatility, with Macquarie Bank and rent.com.au among other listed companies to change their capital raising plans.

ASX-listed fund manager Primewest is building a portfolio of agricultural assets, launching a $100 million syndicate and announcing the acquisition of a property leased to Australia’s biggest fruit and vegetable processing group.

ASX-listed funds manager and retail landlord Primewest has offered to cover the cost of professional advice for its retail and commercial tenants affected by COVID-19, in a partnership with multinational accounting firm RSM.

Property fund manager Primewest has purchased a national agricultural asset management company for $10 million, two days after establishing a $300 million fund targeting neighbourhood shopping centres.

Primewest has unveiled the second stage of its $100 million plan for the City of Joondalup, pushing ahead with an $80 million proposal for a 12,000 square metre office building, with parking for 150 vehicles.

Primewest has confirmed it will support the sale of Vitalharvest Freehold Trust to Macquarie Group.

The updated WA ‘rich list’ shows the state’s iron ore magnates are moving far ahead of people who made their money in other industries.

Property funds manager Primewest has raised $60 million to fund investments in two of its unlisted funds, including its agricultural trust.

Investors are hungrier than ever for alternative, nondiscretionary assets, and agricultural property appears to fit the bill.

Primewest has received an off-market takeover bid from fellow property fund manager Centuria Capital, with the combined group to have $15.5 billion in assets.

A company led by Alan Bond’s son John Bond has sold Subiaco’s former Sapphire Bar for $4.5 million.

Soaring valuations for tech companies and mining stocks have brought major shifts in this year’s list of WA wealth creators.

The biggest local fund managers developed their reputations decades ago.

Primewest’s founders John Bond, David Schwartz and Jim Litis will continue to lead the real estate group’s WA team.

The Primewest brand may be gone but its three founders are still doing deals.

In this podcast, Mark Beyer and Mark Pownall discuss house prices; interest rates; Monadelphous buy; Tasmea IPO; infrastructure blowouts; Liontown; VGW; interesting property deals; labour market shortages and IR reform.

The former Colliers agent has started a national real estate business with the backing of Primewest founders John Bond, David Schwartz and Jim Litis.