KUALA LUMPUR (April 11): CIMB TrustCapital Advisors (CIMB-TCA), a joint venture between CIMB Real Estate Sdn Bhd and Singapore based TrustCapital Advisors Pte Ltd, has acquired an A-Grade 12-storey office building in Canberra for A$226 million (RM719.71 million).
CIMB-TCA is a unique Asian-based fund established with the objective of investing in high grade commercial office buildings in the key cities of Australia, has acquired 50 Marcus Clarke Street, Canberra, from the Walker Corporation for approximately A$226 million.
CIMB-TCA Australia is the investment manager of 50 Marcus Clarke Street.
In a statement on Wednesday, CIMB-TCA said the property, a premium-grade asset was constructed in 2011 and was on a long term lease to the Commonwealth Government Department of Education, Employment and Workplace Relations (DEEWR).
"This highly energy-efficient building, located in the centre of Canberra’s CBD, has been awarded a 5.5-star NABERS Energy rating and has achieved a 6-star Green Star as-built rating," it said.
CIMB-TCA said the transaction, which was done with a co-investment partner, was the group’s third property acquisition in Australia since it entered the market in early 2011.
The other assets include 469 LaTrobe Street and 850 Collins Street, both in Melbourne, it said.
The fund's chairman Datuk Robert Cheim said this third transaction demonstrated that the Fund has the clear intent, the will and the resources to execute deals that would deliver strong returns to it investors, as it continues to grow its footprint and expand its portfolio in Australia.
"With our strong track record of acquisitions and investment, we will continue to bring investors into the Australian real estate market and add value through sourcing, structuring, financing and ongoing asset management," he said.
He said CIMB-TCA had invested approximately A$450 million over the last 12 months and was now one of the most prolific and respected foreign investment managers in the Australian office real estate sector.
CIMB-TCA is a unique Asian-based fund established with the objective of investing in high grade commercial office buildings in the key cities of Australia, has acquired 50 Marcus Clarke Street, Canberra, from the Walker Corporation for approximately A$226 million.
CIMB-TCA Australia is the investment manager of 50 Marcus Clarke Street.
In a statement on Wednesday, CIMB-TCA said the property, a premium-grade asset was constructed in 2011 and was on a long term lease to the Commonwealth Government Department of Education, Employment and Workplace Relations (DEEWR).
"This highly energy-efficient building, located in the centre of Canberra’s CBD, has been awarded a 5.5-star NABERS Energy rating and has achieved a 6-star Green Star as-built rating," it said.
CIMB-TCA said the transaction, which was done with a co-investment partner, was the group’s third property acquisition in Australia since it entered the market in early 2011.
The other assets include 469 LaTrobe Street and 850 Collins Street, both in Melbourne, it said.
The fund's chairman Datuk Robert Cheim said this third transaction demonstrated that the Fund has the clear intent, the will and the resources to execute deals that would deliver strong returns to it investors, as it continues to grow its footprint and expand its portfolio in Australia.
"With our strong track record of acquisitions and investment, we will continue to bring investors into the Australian real estate market and add value through sourcing, structuring, financing and ongoing asset management," he said.
He said CIMB-TCA had invested approximately A$450 million over the last 12 months and was now one of the most prolific and respected foreign investment managers in the Australian office real estate sector.
