MA Financial Strikes $327.5M Deal for Melbourne’s The Glen Shopping Centre
Synopsis
MA Financial Group has agreed to acquire a 50 per cent stake in Melbourne’s The Glen Shopping Centre for $327.5 million, taking its recent Australian retail property deployment to almost $500 million across three transactions.
MA Financial Group (ASX: MAF) has agreed to acquire a 50 percent interest in The Glen Shopping Centre in Melbourne’s south-east for $327.5 million, in a MA Financial The Glen Shopping Centre deal that adds to the alternative asset manager’s growing Australian retail property portfolio.
Brokered exclusively by CBRE on behalf of Perth-based vendor Perron Group, the transaction reflects a passing yield of 7 per cent.
The Glen, in Glen Waverley, spans 7.2 hectares and has 76,471 square metres of gross lettable area.
The centre is 99 per cent occupied, generates more than $575 million in annual retail sales and attracts almost 15 million visitors annually. Its $430 million redevelopment was completed in 2020.
MA Financial Expands its Retail Property Footprint
The Glen Waverley Shopping Centre sale follows two other retail acquisitions announced by MA Financial in recent weeks. Taigum Square in Brisbane and Sydney’s ECQ XL large format retail centre together add $170 million to the group’s recent deployment. The three transactions bring its total investment across Australian retail property to $497.5 million.
MA Financial said the acquisitions reflect favourable conditions created by population growth, resilient consumer spending and constrained retail supply.
New Fund Targets Large Format Retail
The group has also launched the MA Large Format Retail Fund, targeting a portfolio exceeding $500 million. The fund was seeded with the $49 million ECQ XL acquisition and supported by an initial $28 million equity raise.
The transaction represents another significant Perron Group Melbourne retail sale, while adding to broader Australian shopping centre transactions in 2026. More than $4.5 billion in regional centre deals have been recorded nationally so far this year, according to the figures provided by CBRE.
MA Financial said settlement of The Glen acquisition is expected during the current quarter. Following settlement of its recently exchanged assets, the group expects to have almost $5 billion of retail real estate assets in its funds and $15.5 billion in total assets under management.
Source: Business News Australia
Vishal is an experienced Editor at Inspirepreneur Magazine with key interests in artificial intelligence, eCommerce, entrepreneurship, lifestyle and startup sector. Prior to joining Inspirepreneur, he was a Content Writer cum Correspondent at Siliconindia Magazine, where he worked on Company Profiles, Cover Stories, Executive Profiles, Feature Articles and Thought Leadership content.
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