Savills Investment Management is acquiring a 14,588sqm office asset in Australia on behalf of its pan-Asian flagship strategy.
The international real estate investment manager has agreed to acquire the HQ South office building in Fortitude Valley, Brisbane from M&G for an undisclosed amount.
Greg Lapham, the head of Australia, Savills IM, said: “We are pleased that we could add further diversification to our pan-Asian strategy. We are targeting to deliver resilient income and the potential for future growth through active asset management.
The latest acquisition lifts the total committed gross assets of the Savills IM pan-Asian strategy to €400m, with 19 properties across Australia and Japan. The core-plus Savills IM pan-Asian strategy, launched in December 2020, has total equity commitments of €260m.
Savills IM manages around €2bn of assets in the Asia-Pacific region with local offices in Singapore, Tokyo, Bangkok, Kuala Lumpur Seoul and Sydney.
To read the latest edition of the latest IPE Real Assets magazine click here.