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Sign in Sign up for a FREE subscriptionGIC buys 25% stake in Chevron Australia HQ project
Brookfield has sold a 25 percent interest in a Perth, Australia, office tower development project to GIC for $200 million, according to media outlets.
Brookfield bought the site from Chevron in 2019 under an agreement to develop a 29-level, 56,000-square-meter (603,000-square-foot) premium office building, including retail and restaurants, with Chevron Australia committing to a 15-year lease.
About half interest in the project was sold to Invesco in January 2020. The project is expected to be completed by mid-2023.
