The Lure of Oz: Foreign Investors Seek to Access Australia’s Historically Tightly Held Real Estate Market
Some of the world’s smartest foreign investors are taking advantage of a one-in-20-year opportunity to gain significant access to the historically tightly held Australian property market.
In the past 24 months, The Blackstone Group, Aviva Investors, LaSalle Investment Management, CLSA and Pramerica Real Estate Investors have made significant corporate and property acquisitions in Australia and, in doing so, committed to having dedicated property personnel based in Australia. Growthpoint Properties of South Africa has taken control of a listed REIT, while Canada Pension Plan Investment Board (CPPIB) and China Investment Corp. (CIC) have accessed indirect stakes in real estate via Australia’s Goodman Group. In addition,