Japanese office real estate investor Daibiru Corp has acquired an Australian asset from an Investa-managed fund for around A$600m (€346m).
Daibiru bought 135 King Street in Sydney from Investa Commercial Property Fund (ICPF) and has appointed Investa as the investment and property manager of the asset.
Takashi Maruyama, Daibiru president and CEO, said the investment was made through its local subsidiary, Daibiru Australia.
Adam Crowe, chief investment officer at Investa, said: “The sale from ICPF to Daibiru demonstrates the interest in well-located, quality assets in Sydney’s CBD. We are excited to welcome Daibiru to the Investa family and look forward to growing a long-term relationship with them here in Australia.”
In 2018 Daibiru acquired its first Australian real estate asset, a development project in Sydney’s George Street, and has since expanded to Melbourne where it is currently developing an office building in partnership with Mirvac, a leading Australian property developer.
The Japanese group is executing its medium to long-term management plan, implemented in 2023 in a bid to position its overseas business strategy as one of the three pillars of company growth. Aside from Australia, Daibiru is actively pursuing further acquisitions in other countries such as India.
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