Brookfield

Media is speculating on a Brookfield bid. There is merit in this as Brookfield has been in Australia for many years and is manager of an unlisted REIT. Brookfield also recently invested in Infigen (wind farms). The Northern beaches asset should be a trophy asset and is scheduled for completion in the 2nd half of this year. Strategically I would not be surprised to see the likes of Medicare join a bid as it seeks to drive longer term returns.

Leasing core assets to a REIT still leaves operating leverage for the buyers. Understand that no data room has been opened to the bidding syndicate at present.