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Charter Hall forms JV with GIC
Transactions - AUGUST 7, 2019

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Charter Hall forms JV with GIC

by Released

Two Charter Hall wholesale funds have combined to partner with GIC, Singapore’s sovereign wealth fund, to acquire the leasehold of Chifley Tower, 2 Chifley Square, Sydney.

Charter Hall will assume the asset and property management of 100 percent of the Tower increasing the group’s funds under management by approximately A$1.8 billion ($1.21 billion) to more than A$33 billion ($22.27 billion).

Charter Hall’s Prime Office Fund (CPOF) and DVP wholesale funds/partnerships have formed a joint venture that will own the Chifley Tower in co-ownership with GIC.

“This off-market transaction reflects the deep relationships we have across our platform, extends the office platform funds under management to more than A$15 billion [$10 billion], whilst also extending a well-established 15-year relationship with GIC,” said David Harrison, Charter Hall Group managing director and CEO. “We have used our diversified funds platform to bring two of our wholesale funds/pa

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