Credit Suisse property fund buys Jubilee Place office tower in Brisbane
A Credit Suisse Asset Management Global Real Estate fund has agreed a forward funding deal to buy the 14-story Jubilee Place office development in Brisbane, Australia.
The project will include the construction of a next-generation, commercial office tower which will comprise a total of 17,500sqm of commercial space, a 17-meter-high public plaza and foyer, an 800sqm landscaped roof terrace.
Financial details were undisclosed.
Christoph Schumacher, head of global real estate at Credit Suisse Asset Management, said: ”The Jubilee Place development is strategically positioned in an area of Brisbane that is seeing massive infrastructure investments, with the urban precinct rapidly becoming a magnet for modern, skilled business professionals and their employers.
“This is an attractive investment proposition for us, and it is aligned with our strategy of strengthening our real estate allocation to best-in-class commercial buildings in urban areas that are experiencing strong growth.”