Mapletree Logistics Trust has acquired Adelaide CBD office tower 11 Waymouth Street from Dexus and Canada Pension Plan Investment Board for A$202.5 million ($156 million), according to media outlets.
The property, called ANZ House, was completed in 2007. Australia Financial Review reported it is considered one of Adelaide’s best office buildings. The 20-story building has 334,000 square feet of office space. It is fully leased with tenants that include ANZ, Deloitte Touche Tohmatsu, Woods Bagot and the Australian Bureau of Statistics.
The deal was consistent with the company’s strategy of refocusing on its core office markets of Sydney, Melbourne, Brisbane and Perth.
Mapletree Logistics Trust entered the Australian market in 2015.
