The Zhitong Finance App learned that Lyon released a research report saying that Lingzhan Real Estate Fund (00823) announced the sale of 50% interest in the Sydney Market Street 100 trust structure to entities under Aware Super for 225.9 million Australian dollars (about HK$1.24 billion). The transaction cost was equivalent to 50% of the property's independent assessed value of A$451.8 million as of the end of May 2026. Although the execution time was earlier than expected, it was in line with management's established strategy to divest 5% to 10% of non-core assets in the portfolio. Lyon maintained a leading target price of HK$48.5 and a “outperforming the market” rating, and indicated that the stock remains one of its preferred stocks.

The bank indicated that Lingzhan currently plans to use the net proceeds to repurchase fund units and reinvest in the core retail property portfolio in the Asia-Pacific region. This repurchase will complement the ongoing repurchase plan supported by the sale of Swing By @Thomson Plaza, and is believed to provide further support for the fund's unit price.

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