CBA reviewing property future
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The management of the $5.7 billion CFS Retail Property Trust being brought in house is seen as the most likely outcome of Commonwealth Bank of Australia Ltd mulling the future of its property platform, The Australian Financial Review reports.
According to the newspaper, billionaire John Gandel, the largest stakeholder in the venture, supports the move.
CBA and Mr Gandel have both reportedly already fielded unsolicited advances about a potential deal.
The AFR also reports GPT Group Ltd and Dexus Group Ltd are seen as likely bidders for the management rights to CFS' smaller stable mate, the $2.5 billion Commonwealth Property Office Fund, if they were offered.
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