Dane Real Estate, the New York City-based brokerage and consulting firm, is expanding into the Australian market.
The expansion will focus primarily on the acquisition of high-end retail opportunities in Melbourne, Sydney and Perth.
Currently a leader in the affordable housing sector in the US, the focus on high-end retail opportunities abroad is a departure for Dane.
Heidi Burkhart, president of Dane, said, “This is an exciting new horizon for Dane. We are very enthusiastic about making this move into Australia and expanding into retail real estate there.
“The market is strong with AUD 8.4 billion investment activity in retail properties up 12 percent from last year.ˮ
Retail investment in Australia is at a high with $2.4 billion pouring into the economy from offshore investors in 2015.
Analysts see the trend continuing as most areas are also seeing high levels of new apartment supply coming onto the market, which will increase population in these areas.
“These economic growth indicators strongly support this move into Australia and it will be an exciting new frontier for the Dane team,ˮ added Burkhart.
Dane Real Estate is embarking on this expansion coming off its most successful year to date in 2015, closing 15 deals nationwide.
Burkhart launched the firm in 2008 and has guided it from a boutique to a major player in real estate. Dane has closed in excess of 11,000 affordable housing units and grossed over $1.5 billion in transactions.