Boston-based AEW Capital Management has acquired a AUD143m (€91.6m)  office building in Australia from a private client of UBS Asset Management.

Industry sources said the building, at 19 Harris Street in Sydney, would be held in AEW’s Value Investors Asia fund series. 19 Harris Street last changed hands in July 2015 when LaSalle Investment Management sold the building to a client of UBS Grocon for AUD92m.

The building is leased to Thomson Reuters. 

US fund manager AEW has acquired three other office buildings in Sydney in the past year for a total of AUD363m.

In June, AEW announced the final closing of its third Asia Pacific value-added fund, AEW Value Investors Asia III (VIA III), with commitments totalling US$1.12bn (€991m), inclusive of client co-investment capital.  Capital raised for the fund exceeded its US$750m fundraising target.

The manager said VIA III was set to continue AEW’s focus on the acquisition of assets in key gateway cities across the Asia-Pacific region, principally Hong Kong, Singapore, Seoul, Shanghai and Sydney, as well as Beijing and Melbourne.