Transactions - JANUARY 21, 2016

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Foreign investors buy Australian office assets for $475m

by Andrea Waitrovich

In separate deals, two Australian office properties are under contract to be sold for a combined A$651.5 million ($474.8 million) in sales price.

South Korea–based property investment and advisory firm Inmark Asset Management and its joint venture partner Millinium Capital Managers have agreed to purchase the Woolworths National Support Office in Sydney for A$336.5 million ($245.2 million). The seller is Mirvac Fund Management.

The 482,529-square-foot office complex is 100 percent leased to supermarket chain Woolworths and serves as its headquarters. The property includes three buildings and a 2,340-space parking lot.

The second office property to be acquired by a foreign investor the 292,738-square-foot Innovation Place in Sydney. Singapore-based Ascendas REIT will purchase the property for A$315 million ($229.6 million). CBRE represented the Salteri family, which is selling the property.

In September 2015, Ascendas purchased a $1 bill

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy