South Korean investors buy Australian office building
Sydney-based Challenger, on behalf of Seoul-based investors FG Asset Management and Korea Investment Holdings, has purchased the four-story Louisa Lawson Building in Canberra, Australia, for $171.1 million.
The Louisa Lawson Building was completed in 2013. The 260,640-square-foot commercial office development was purpose-built for the Department of Human Services, which is on a long-term, single-tenant lease. The building also included a parking lot with spaces for more than 500 vehicles.
Recently, Korea Investment Holdings entered a pending deal to acquire Cira Square, an 862,692-square-foot office property in Philadelphia’s University City area, for $354 million.
And FG Asset Management acquired several offices in Australia: ATO Albury inNew South Wales for $46.3 million and ATO 913 Whitehorse in Box Hi