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Charter Hall Group Partners With QuadReal To Acquire Brisbane CBD Development Site

Charter Hall Group Partners With QuadReal To Acquire Brisbane CBD Development Site

February 4, 2021 – Charter Hall Group announced its partnership with global real estate investor QuadReal, to acquire one of the largest remaining Brisbane CBD development sites, located within the heart of the North Quay renewal precinct.

This acquisition further extends the Charter Hall and QuadReal partnership following the 2019 A$630 million (US$480.3 million) acquisition of 201 Elizabeth Street, Sydney, by securing an underdeveloped site and providing optionality for two simultaneously submitted planning applications, which propose either a twin or single tower development.

Charter Hall Managing Director and Group CEO, Mr David Harrison, said “We are delighted to extend our relationship with QuadReal, one of Canada’s largest property groups. QuadReal is experienced in real estate development, and this partnership reflects the deep investor customer relationships we have across our platform.”

QuadReal Head of Asia, Mr Peter Kim, said “Australia remains a key focus for QuadReal, and the North Quay investment is a direct product of the long-term strategic relationship we have with Charter Hall in that market. Urban renewal is a theme we embrace and support throughout the world; and this recent acquisition, which increases the size of our global office portfolio to about 34 million sqm, reflects QuadReal’s strong conviction around improving the communities in which we invest.

Read more here..

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