Blackstone and Brookfield have put a A$2bn (€1.4bn) Australian office complex up for sale.
The owners have appointed Cushman & Wakefield and CBRE to handle the sale of Southern Cross Towers in Melbourne.
Market sources told the media that the prime assets had already attracted interest from institutional investors including Singapore’s GIC and the UK’s M&G Real Estate. Hong Kong’s Link REIT, which is also seeking to grow its presence in Australia, is thought to be on the list of contenders.
According to market sources, M&G Real Estate and SGX-listed Keppel REIT, are believed to be working with Lendlease, and the industry superannuation fund, UniSuper, is backing AMP Capital in its push to buy the asset. Charter Hall is said to be working with GIC, its long-term capital partner.
Blackstone bought a 50% stake in Southern Cross Towers from Brookfield Property Partners for A$675m in 2015. Brookfield acquired Southern Cross Towers and Bankwest Tower in Perth for a total of A$250m in 2011.
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