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Oyster Group cuts deal with Prime Retail Management

Property company Prime Retail Management has signed a deal to take over Oyster Group's management business and pair up on all its future syndications.Oyster Group was created by five former Bayleys staff to focus on syndicates and commercial property mana

Jazial Crossley
Mon, 20 Sep 2010

Property company Prime Retail Management has signed a deal to take over Oyster Group’s management business and pair up on all its future syndications.

Oyster Group was created by five former Bayleys staff to focus on syndicates and commercial property management.

It has more than 600 investors with investments in $250 million of property that brings in about $25 million rent each year.

Earlier this year Oyster Group formed a syndicate for three buildings it bought from DNZ Property Fund.

Prime Retail Group developed and manages retail properties including the Dress-Smart outlets nationwide.

“Both Prime and Oyster see this as a win-win situation for all involved and are looking forward to working together for the benefit of our clients,” Prime Retail Group chief executive Mark Schiele said.

The price of the deal was confidential.

Jazial Crossley
Mon, 20 Sep 2010
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Oyster Group cuts deal with Prime Retail Management
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