Singapore-based OUE Real Estate Investment Trust (OUE REIT) is moving to acquire a 50 percent stake in Sydney’s Salesforce Tower from Ping An Real Estate for approximately A$864 million ($601 million), according to realestatesource.
The transaction would increase OUE REIT’s ownership in the 55-story office tower to 69.9 percent, following its acquisition of a 19.9 percent interest for A$357.2 million ($248 million) earlier in 2026. The latest deal values the property at approximately A$1.73 billion ($1.20 billion), reflecting a capitalization rate of 5.75 percent.
Located at 180 George St. in Sydney’s Circular Quay district, Salesforce Tower comprises approximately 666,000 square feet of class A office space. The property was 99.2 percent occupied as of December 2025, with tenants including Salesforce, JLL, Wellington Management and The Executive Centre.
