ARIADNE Australia and its joint venture partner Abacus have settled on the sale of Mariners Cove to SP Marina Pty Ltd, a company associated with Raptis Group and City Pacific.
The JV acquired Mariners Cove, a crown leasehold retail and marina complex on
Ariadne received net cash proceeds from the sale of approximately $20.5 million after retirement of debt and expects to gain approximately $16.75 million from the sale.
Australian Property Journal
