July 21, 2020
Stockland sells Melbourne residential stake to Supalai.
Supalai Public Company Limited invests $52.5M for a 50 per cent interest in Stockland’s newest master-planned community, Katalia at 975 Donnybrook Road in Melbourne’s north. Stockland agreed to purchase the 89 hectare site in November 2019, for $105 million on capital efficient terms, with parcel one expected to settle in FY21. Construction is due to commence in the coming months which will allow for the first settlements under the new joint venture to occur from July 2021. Supalai was represented in the transaction by Gersh Investment Partners Limited.
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