Macquarie in talks with Investa

Macquarie Real Estate Investment Holdings, a wholly-owned subsidiary of investment bank Macquarie, has entered into exclusive negotiations to buy a stake in the management platform Investa Commercial Property Fund Holdings, according to a statement on Macquarie’s website.

The discussions are regarding a possible funds and property management joint venture under which Macquarie Capital SPV would directly acquire 50 percent of the shares held by ICPFH in Investa Office Management Holdings Pty Ltd, being the holding company of the manager and responsible entity of Investa Office Fund.

The parties have entered into a mutual standstill and exclusivity agreement for the purposes of negotiating and finalizing the joint venture.

Macquarie Group is required to lodge an initial substantial holder notice in respect of Investa Office Fund as a consequence of entering into the mutual standstill and exclusivity agreement, which it will lodge with ASX and Investa Office Fund in due course.  Any transaction entered into as a result of these arrangements would not be material to Macquarie Group.