With the Fund Manager of the Year Awards just around the corner, Money Management spoke with the finalists nominated for Unlisted Real Estate Fund of the Year.
Charter Hall spends big on $780 million commercial portfolio
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Charter Hall’s acquisition of four commercial properties for $780 million has taken its buying spree this financial year to $7 billion and managing director David Harrison says there is more to come.
In its latest foray, four Charter Hall funds have combined to buy South Korean financial services company AIP Asset Management’s Australian portfolio of four buildings with 70,000sq m of lettable space on an average yield of 5.2 per cent.
Three of the buildings are long-leased government offices, a recurring Charter Hall theme, while the fourth is the Australian Red Cross Lifeblood headquarters in Alexandria, Sydney, which cost $159 million.