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Seoul investor buys Australian office for $111m

by Andrea Waitrovich

Seoul-based FG Asset Management has purchased an office building in Melbourne, Australia, for approximately $111.3 million from Cromwell Property.  

The 211,836-square-foot office property is under construction, and the Australian Taxation Office has leased 100 percent of the office space. The property also includes 7,219 square feet of retail space and a 250-space parking garage.

According to Western Australia Today, this is the Korean investor’s second Australian Taxation Office building. The other is located in Albury, New South Wales, with a sales price of $47.2 million.

Last week, FG Asset Management, on behalf of the Korean Teachers’ Credit Union, purchased a 49 percent stake in a Manhattan office property located at 51 Astor Place. The building is valu

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