Pitt Street Real Estate (RE) Partners, an Australian subsidiary of investment company Washington H. Soul Pattinson, has completed the acquisition of two blocks of flats on the Cronulla beachfront in Sydney.
Pitt Street Real Estate acquired the two, three-storey red-brick residential buildings at 37 Gerrale Street, Cronulla from 30 individual owners.
The firm bought the 1950-built flats, which are on a rectangular block with additional street frontages to Surf Road and Surf Lane, for a total purchase price of $38.2 million.
More so, U.S. commercial real estate services firm Jones Lang LaSalle Inc. brokered the divestment of the 1746-square-metre site, that is zoned B3 commercial core.