A German pensions-backed Australian real estate fund managed by Macquarie Asset Management has invested $A140m (€87m) in Sydney.
Macquarie said it has bought a 50.1% equity interest in 60 Carrington Street office building on behalf of the GLL Australien Fonds strategy. The fully-leased 14,600sqm office building is located within the redeveloped Wynyard precinct.
GLL Australien Fonds, launched in 2018, is managed by Macquarie and its partner Marprop Real Estate Investors on behalf of German institutional clients. The strategy is currently backed by 9 German pension funds, insurance companies, and investment funds.
Florian Winkle, co-head of Macquarie Asset Management’s real estate team in Europe, said: “We are delighted to have secured this iconic building in the heart of Sydney on behalf of our German institutional clients.
”Situated near a growing transport hub in the city centre, 60 Carrington Street is a high-quality property and a welcome addition to our Australian office portfolio.”
The fund currently holds five office investments across Sydney, Melbourne, and Canberra, worth $A450m in total.
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