Macquarie Asset Management has acquired a $102m (€88m) US office building.
According to people familiar with the matter, Macquarie acquired the Offices at Chandler Viridian in Chandler, Arizona from Hines and New York Life.
The six-storey 250,000sqft building, built in 2019, is currently 92% leased.
Macquarie said this is the second major investment in the Phoenix metro in the last four months by its US core/core-plus real estate team on behalf of US real estate mandates.
In August, Macquarie acquired CASA, a newly-renovated and fully-leased office building in uptown Phoenix, Arizona.
Both of these acquisitions are strong complements to the firm’s existing managed portfolio which includes properties in Scottsdale and Tempe, Macquarie said.
Christopher Quiett, managing director, Macquarie Asset Management, said: “Leasing momentum has been outstanding since the Offices at Chandler Viridian opened and the Chandler submarket continues to attract a broad spectrum of tenants which is one of the key reasons that this asset appealed to us.
As reported last week, DEVK Insurance Group hired Macquarie and German American Realty to establish a core and core-plus real estate portfolio in the US via a new separately managed account mandate on behalf of two of its group entities.
The acquisition of CASA is Macquarie’s first investment for the portfolio.
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