Real I.S. acquires fully leased office building for the Australian Institutional Portfolio Fund

The Real I.S. Group has acquired a fully leased multi-tenant office building — 11 Wilson Street, in the Melbourne suburb of South Yarra — for its Australian Institutional Portfolio Fund (AIPF).

This is the fourth property acquired by the company for this investment fund. The vendor was Vicland Property Group, a local developer. The parties have agreed to keep the price confidential.

The building at 11 Wilson Street is a nine-story new build with a total leasable area of 6,400 square meters (68,890 square feet); additionally the asset has 19 underground car park spaces. The property was completed in 2020 and is situated in the office submarket of South Yarra in Melbourne. This is an established, upmarket district with a diverse range of food and beverage outlets and retail businesses, as well as excellent public transport links.

Michael Wecke, director of Real I.S. Australia Pty. Ltd., said, “With this fourth acquisition for our AIPF we have reached an impo