Charter Hall Retail REIT (ASX:CQR) is looking for acquisition opportunities. Joint Managing Directors of Charter Hall, David Southon and David Harrison are planning for acquisitions worth up to AUD 1.3 billion. The company intends to focus on shopping malls, office complexes and industrial properties in its expansion drive, with operating earnings set to increase by between 5% and 9%.

NSW government properties plan to sell property worth AUD 300 million through Macquarie Group. Investec's deputy chairman, Geoff Levy, is also running the sale of the seven properties as part of his role at the government's Property Asset Utilisation Taskforce. The key assets to be sold in the portfolio, which are likely to be leased back to the government, include Bligh House at 4-6 Bligh Street and 207 Kent Street, at the northern end of the city's growing western corridor. Agents say the transaction has hit a bump due to a dispute over valuations, which the government maintains are too low. Charter Hall Retail REIT and Arena Investment Management have been said to be the front runners in the tender process and are willing to take on the portfolio and either on-sell the lesser quality properties or redevelop them and place them into a wholesale fund. Mirvac Group is said to be interested in individual assets including 210 George Street. Suggested interested parties remain Blackstone and Pacific Alliance Group.

Charter Hall Retail REIT has divested its interest in the last United States joint venture entity with Regency Centers for net proceeds of about AUD 11 million. The company plans to use the proceeds for Australian acquisition opportunities or for its redevelopment pipeline.