Charter Hall’s PFA fund sells office building at UNSW Kensington for A$80m
Direct PFA fund, managed by Charter Hall Group, has divested its leasehold interest in an administration building at the University of New South Wales Kensington campus for a total consideration of A$80 million ($54 million).
Located at 221–227 Anzac Parade in Kensington, the asset is a purpose-built administration facility leased by the University of New South Wales, with nine years remaining on the existing lease.
“This divestment is in line with our portfolio curation strategy and demonstrates our commitment to transacting with financial discipline and acting in the best interest of our investors,” said Steven Bennett, Charter Hall Direct CEO.
In line with its product disclosure statement, PFA offers investors liquidity windows every five years. PFA accepted all redemption requests received in response to its most recent liquidity event and will meet those requests in full in an orderly and progressive manner.