Japanese real estate firm Daibiru Corp. has acquired a development site for an 18-story office block in the Sydney CBD, which marks the firm’s entry into the Australian office market.
The seller was Chinese-controlled John Holland.
TH Real Estate, a subsidiary of Nuveen, was appointed to provide investment management and development oversight for the project, marking its first partnership with Daibiru.
275 George Street will consist of 14 stories of commercial office space with three levels of retail and basement end-of-trip facilities.
Australia is the second overseas market for the Tokyo-listed office building landlord. Daibiru Corp.’s overseas portfolio consists of two class A office buildings, namely “Saigon Tower,” located in the Ho Chi Minh City CBD, in 2012, and “CornerS
