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Blue Sky offloads Gundaline Station in the Riverina
Blue Sky's cotton farm Gundaline Station has been sold for around $65 million.
The price has not been revealed, but in an announcement to the ASX on Friday, ASX-listed Blue Sky Alternatives Access Fund confirmed the price was "in line with the Alternatives Fund carrying value for the investment".
"We anticipate this investment will be completed in the third quarter of 2018, following FIRB approval and the completion of the current cotton harvest and ginning," BAF said
The trouble fund manager held around a third of the rural asset.
It was listed for sale late last spring through Kidder Williams.
The sale to an offshore European party was close to being finalised, The Australian first reported mid-last week, with contracts exchanged last week.
The asset sits within Blue Sky's Real Estate Assets division.
The farm, at at Carrathool off the Sturt Highway, isn one of Australia’s largest irrigat