Mirvac has revealed it has fully executed its ~$1 billion asset sales program, including the exchange of 367 Collins Street, Melbourne.
Additionally, Mirvac has exchanged a ~66% interest in 55 Pitt Street, Sydney, with Mitsui Fudosan Australia, with the entire office development valued at approximately $2 billion.
"This transaction underscores our commitment to enhancing our portfolio with high-quality assets," said Susan Lloyd-Hurwitz, CEO of Mirvac Group.
"We are excited about the joint venture with Mitsui Fudosan Australia and the value it will bring."
Mirvac has also completed the sale of the Aspect South Industrial precinct in Sydney to the Mirvac Industrial Venture (MIV), with the Australian Retirement Trust acquiring a 49% interest.
This brings the total expected end value of MIV to around $1 billion.
The Group is on track to settle approximately 2,400 residential lots by the end of the financial year.
Mirvac reaffirms its guidance of operating earnings per stapled security of 14.0-14.3 cents for FY24, with distributions of 10.5 cents per stapled security.
Detailed results will be announced on 8 August 2024.