CapitaLand Investment acquires 22-story office tower in Melbourne’s CBD

CapitaLand Investment Limited (CLI) has acquired a freehold office tower in the Western Core of Melbourne’s Central Business District for its flagship regional core-plus fund, CapitaLand Open End Real Estate Fund (COREF).

The acquisition marks CLI’s fifth investment in Australia within six months. This is COREF’s first acquisition in Australia and its fourth in Asia Pacific, with total investment amounting to approximately $900 million since the fund’s establishment in August 2021.

“Australia is one of CLI’s focus markets where we see significant potential for growth,” said Paul Toussaint, managing director for Australia, CLI. “CLI has invested about A$1.5 billion [$1.1 billion] in five quality assets in the country held through its private and listed funds in the past six months. 120 Spencer Street is CLI’s latest deal in Australia, sourced and executed by our experienced local team. In view of the post-COVID recovery and companies’ steady ret