The largest was by Charter Hall Retail REIT of its two remaining German assets for €80.8 million ($116 million), with the buyer also assuming all debt liabilities associated with the portfolio.

Charter Hall Retail’s fund manager, Scott Dundas, said the sale would see the fund’s gearing reduce by 4 per cent to the market average of 33 per cent. He said the sale would have no impact on operating earnings or net tangible assets.

“We are pleased to have contracted to sell our German portfolio, which importantly finalises the sale of all our European assets and terminates our exposure to the European market,’’ he said.

Victoria's Golder Associates has also raised $20 million with the sale of five properties to private investors and developers. Colliers International sales agents Rob Joyes, Jock Murray, Ian Thomas, Chris Veitch, Jay Beattie and Nick Dowling said the properties were all keenly sought for lease back.

Golder Associates is an employee-owned, global company providing independent consulting, design and construction services in the specialist areas of earth, the environment and energy.

Portfolio co-ordinator Rob Joyes said the Austerra Holdings Portfolio, which was sold on behalf of Golder Associates, involved properties in Cairns, Maroochydore, Toowong, St Leonards and Adelaide.

The largest was 124 Pacific Highway, St Leonards, which sold for $9.6 million on a 9.2 per cent yield.

Mr Joyes said companies were taking advantage of the demand for office assets in the low-interest rate environment, where they could also negotiate an attractive lease deal.

“In the context of easing returns from cash and uncertainty surrounding the performance of equity markets, steady and long-term yields make this type of transaction an investment just right for the current market.”

Mr Joyes and Colliers International's Sasan Misaghian also have NEC's property at Mulgrave in Victoria entering exclusive due diligence, which is worth about $25 million.