Since Tuesday’s suspension in share trading, City Pacific has reportedly been in discussion with three possible buyers or joint venture partners for a number of it’s assets.

The company, which owns either fully or jointly, a number of large development sites on the Gold Coast, including Mariner’s Cove and the Gold Coast International (with the Raptis Group), the $100m Surfers Paradise beachfront Pacific Beach site and the King Tide site in Broadbeach, is believed to need to raise some funds in order to repay a number of debt commitments, notably $240 million to the Commonwealth Bank.

Tags: City Pacific Ltd, GCI, gold coast, King Tide Redevelopment, news, Pacific Beach, property, Raptis Group, real estate

This entry was posted on Friday, March 7th, 2008 at 1:49 pm and is filed under City Pacific Ltd, GCI, King Tide Redevelopment, Pacific Beach, Raptis Group. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.